North America Wildfire HD Model Suite
Recent North America events have had devastating bottom line impacts and demonstrated the need for better wildfire risk modeling for underwriting entire portfolios, pricing and underwriting individual policies, reinsurance purchasing, and capital adequacy.
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 North America Wildfire Model
RMS Wildfire modeling accurately characterizes fires as they start and travel due to factors that drive ignition and spread, including wind and presence of vegetation. This helps insurers, reinsurers, governments, and financial institutions differentiate safe structures from dangerous ones, conduct risk assessments, estimate potential losses, accurately price fire risk, and optimize risk transfer.
Improve Portfolio Management
Use RMS wildfire models to monitor and manage risk accumulation for any portfolio, protecting from insolvency, stress testing potential losses, and identifying growth opportunities in today’s changing wildfire risk landscape.
Comparative Metrics
Our wildfire analytics provide industry-standard loss metrics that align with those available for other probabilistic models of perils to avoid surprises when looking at CAT bonds.
Corporate Risk Mitigation
Benchmark wildfire risk to your business, calculate the benefits of mitigation actions, ensure risk differentiation, and make key risk transfer decisions more effectively.
Changing the Wildfire Analytics Game
The North America Wildfire Model quantifies the location and severity of wildfire risk beyond simple techniques for better understanding of impacts.
Regional and Country Wildfire Models
Regional Models
Click a region on the interactive map to see coverage.
Gain a Single View of Risk With Wildfire Risk Modeling
Tap into the RMS North America wildfire suite to optimize risk selection, improve underwriting profit, and reduce loss ratio. With more accurate wildfire insights, you have the perspective you need to enhance pricing accuracy, achieve a stronger competitive position, and outperform. From better risk selection to risk appropriate pricing, you have the power to apply risk appetite and quantify mitigation impacts for a more complete picture.
RMS wildfire modeling gives you an on-demand view of risk to help you make better business decisions and improve capital efficiency. Whether you are looking at the technical price of an individual exposure or return period losses for your entire portfolio, you’ll have the most complete view of wildfire risk in the market. And with HD resolution analytics and
Related Products
The RMS wildfire model and related data are included in several RMS products – each tailored to serve different use cases.
Resources
Canada Wildfire: Managing the Next Fort McMurray
On May 1, 2016, a small wildfire was spotted some 4 miles (7 kilometers) southwest of Fort McMurray. With a population of around 66,000, Fort McMurray is renowned in Canada as an oil production center, located within the vast Athabasca oil sands across northeastern Alberta. An estimated 1.7 trillion barrels (equivalent) of bitumen lie under 54,000 square miles (140,000 square kilometers) of forest and peat bog. Firefighters on the scene quickly acted to…
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…
Wildfire Ignition and Spread
RMS U.S. Wildfire HD Model captures the full spectrum of complex threat.
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