Wildfire Risk Analytics
The growing scope and severity of wildfire risk call for practical, innovative tools to help insurers manage their exposure.
4.5 million U.S. properties are at high to extreme risk for wildfire, according to Verisk estimates.
Managing wildfire risk has become an increasingly important challenge for many insurers, as the peril continues to grow in frequency, severity, and scope.
And, with long-term projections showing that this trend will likely continue, understanding research and data on mitigation activities at all levels is emerging as a key trend within the industry.
FireLine® provides property-specific hazard scores based on the risk factors of fuel, slope, and access, and identifies risks exposed to wind-borne embers. Additional available insights include community-level mitigation information and historical wildfire activity.
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.
FireLine is extensively validated with post-event wildfire data. The tool is frequently updated to better reflect the latest risk landscape, drawing on our deep expertise in the science of wildfire trends and behavior.
Verisk’s wildfire risk analysis determines the number and percentage of properties at high and extreme risk from wildfire in the 13 most wildfire-prone states and two Canadian provinces.*
*AB, AZ, BC, CA, CO, ID, MT, NV, NM, OK, OR, TX, UT, WA, and WY
Verisk works in concert with community-level mitigation programs to track participation. And we’re using aerial imagery to study the levels of adoption and effectiveness of property-level mitigation efforts such as maintaining defensible space around structures.
Taking into consideration the nuances of the property you’re insuring can help you take charge of multifaceted risk factors.Read the article
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.Read the article
Verisk works with fire protection, scientific, and insurance community to provide technology to manage and mitigate wildfire risk.Read the article
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