Natural Hazard Risk and Response
Manage weather and climate risk with detailed analytics
Verisk provides detailed analytics of weather, climate, and environmental perils to help you understand and manage risk, better allocate field staff, improve customer satisfaction, shorten workflow cycles, and support profitability.
Key perils to watch
Natural hazards are increasing in frequency and severity. Insurers should ask themselves three key questions while managing peril risk across:
- Hail and severe thunderstorm
- Wildfire
- Hurricane, flooding, and storm surge
Hail and severe thunderstorm risk
Hail and severe thunderstorm risk
Changing weather patterns are creating new challenges as the footprint grows for frequent hail events and the severe thunderstorms that often produce them.
Hail damage can take time to detect, leading to delayed claims. But data and analytics can help insurers manage these risks more effectively.
Flood and hurricane risk
Flood and hurricane risk
In the post-industrial age, rising CO2 levels are warming the atmosphere and oceans, allowing more storms to develop and strengthen.
Complex changes in large-scale wind patterns are expected to create more favorable conditions for hurricanes, flooding, and tropical cyclones.
Wildfire Risk and Mitigation
Wildfire Risk and Mitigation
Wildfires have increased dramatically during the past decade. Loss exposure will continue to grow as the wildland-urban interface (WUI) and other high-hazard areas are further developed.
With deeper understanding of these effects, you can underwrite and manage your wildfire exposure with greater insight.
Ice, Fire, Wind, and Water
This report examines recent activity, trends, and data-driven tools to help insurers and communities better measure and mitigate risk surrounding three especially destructive categories of hazards: Hail and severe thunderstorms, wildfires, and hurricanes.
Verisk supports research and education to reduce the scope and severity of wildfire losses, working with community-level mitigation programs to track participation.
Complementary Analyses
Wildfire risk analysis
The Verisk wildfire risk analysis determined the number and percentage of properties at high and extreme risk from wildfire in the 13 most wildfire-prone states and two Canadian provinces*. Our FireLine® Risk Reports contain complete state or provincial-level risk analyses.
Verisk Annual Property Report
As a global pandemic continued to affect the world, a winter storm and hurricanes battered the south and the Midwest. These and other 2021 events affected labor and material prices and drove claims activity throughout the year.
Building property risk profiles from a data ecosystem
As wildfires and other natural catastrophes grow in frequency and severity, so does the value of data ecosystems to help insurers gain a comprehensive view of property risk, from address-level exposure to granular, up-to-date reconstruction cost estimates.
Additional insights
Severe thunderstorms and hail: Concentrated events that pack a punch
Severe thunderstorms are a common natural phenomenon in the US, causing more than half of annual reported insured losses since 1985.
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Will climate change lead to more hurricanes?
Verisk’s Climate Change Projections help organizations investigate how loss metrics such as average annual losses (AALs) and return period may change in the future.
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Best practices for underwriting natural catastrophe risk
Taking into consideration the nuances of the property you’re insuring can help you take charge of multifaceted risk factors.
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How wildfire activity is affecting Northern California for the long haul
With the wine industry estimating over $3 billion in losses due to these fire events, the spotlight on wildfire risk in Northern California remains as acute as ever.
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