Wildfire Risk
Improve Wildfire Risk Management
2018 California Wildfires: An Actuarial Review
2018 was a catastrophic year for wildfires across the United States. Nearly 9 million acres burned in the Camp, Woolsey and Carr Fires, and many lives, homes, and businesses were lost. When the rubble and ashes settled, the risk management community found lessons in the destruction and answers to the question of how well the science included in the Wildfire Risk Score model had performed.
Take the Guesswork Out of Wildfire Risk Management
Wildfires are natural hazards that don't always result from a natural occurrence. A single misplaced cigarette or campfire can wipe out entire communities – and also the health of a portfolio. As our growing population and associated residential development expands into high-risk wildfire areas and increases the number of properties in the Wildland-Urban Interface, property and casualty portfolios are becoming more exposed to wildfire risk. Wildfire property risk layers from CoreLogic can be delivered according to your business needs – and most recently include an easy and affordable desktop option which gives even smaller companies the ability to manage their book of business’ wildfire risk and more accurately price individual policies.
Establish Better Wildfire Policy Premiums Without Extensive On-Site Visits
Previously, many insurers conducted expensive and time-consuming on-site visits to determine a property’s risk of wildfire. Usually, our customers can determine pricing models for wildfire risk without ever leaving the office. Are you ready to take the guess-work out your wildfire risk management?
CoreLogic Enables a More Accurate Assessment of a Property's Risk of Wildfire by:
- Scoring the wildfire risk – 5 to 100 – based on a property’s distance to high risk vegetation
- Accurately identifying the structure’s proximity to high risk vegetation, the WUI, and the surrounding area’s residential density class – without expensive on-site visits
- Ranking – on a scale from very high to low – the risk of brushfire based upon landscape factors such as slope, aspect, vegetation (fuel) and surface composition. This means you can more accurately price individual policies
Check These Out
If you're interested in Wildfire Risk Score, you might be interested in these:
Fire Protection
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Wind Risk Score
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U.S. Wildfire Model
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