Wildfire HD Model
Recent North America events have had devastating bottom line impact and demonstrated the need for better ways to comprehensively manage wildfire risk for underwriting, reinsurance purchasing, and capital management.
Application of Wildfire Mitigation to Insured Property Exposure
How could effective wildfire risk reduction measures be applied to insured property exposures?
Models, Experts, and Coffee
RMS VP, Model Product Management Michael Young
Overview of Wildfire Model
Accurately characterize fires as they start and travel in real life to help insurers, reinsurers, governments, and financial institutions differentiate safe structures from dangerous ones, accurately price fire risk, and optimize risk transfer.
Improve Portfolio Management
Monitor and manage risk accumulation for any portfolio, protecting from insolvency, and identifying growth opportunities in today’s changing wildfire risk landscape.
Comparative Metrics
Find industry-standard loss metrics similar to those available for other modeled perils to avoid surprises when looking at CAT bonds.
Corporate Risk Mitigation
Benchmark wildfire risk to your business, calculate the benefits of mitigation actions and understand the wider financial implications.
Changing the Analytics Game
The U.S. Wildfire HD Model quantifies the location and severity of wildfire risk beyond simple techniques for better understanding of impacts.
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Cutting Out Wildfire Risk From the California Electricity Grid
On January 30, 2019,Judge William Alsup, district judge for the Northern District of California, presided over a hearing to discuss the inclusion of wildfire prevention in a 2016 Probation Order mandated to Pacific Gas and Electric (PG&E) in the aftermath of the 2010 San Bruno gas explosion that left eight dead.
Northern California: Fire and Water
From major wildfires just over four months ago, and now major flooding, Northern California seems to leap from one perilous state to another. This time, rainfall from a “potent atmospheric river,” as described by the National Weather Service, caused flooding to over 3,000 properties in Sonoma County.
Better Strategies Needed for a Growing Catastrophe Risk
What will the 2019 wildfire season bring across the United States? Across the United States, around eight-and-a-half-million acres burned in 2018, nearly three times the annual average during the 1980s and 1990s. That is the equivalent of the entire state of Maryland burning in one year.
Related Products
The RMS wildfire model and related data are included in several RMS products – each tailored to serve different use cases.
Resources
RMS Releases U.S. Wildfire High-Definition Model To Empower (Re)insurers To Address Pervasive Wildfire Risk
NEWARK, Calif. - February 14, 2019 RMS, the world’s leading risk modeling and analytics firm, announces the release of the RMS U.S. Wildfire High Definition (HD) Model, the most comprehensive solution available for addressing wildfire risk across the Contiguous United States (48 States). Since 2014, devastating wildfires have unleashed more than USD $30 billion in claims and five of the 10 most destructive wildfires ever have occurred in the 2017 and…
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