Wildfires are growing in severity and intensity.
Since 2013, they have cost the insurance industry over $70 billion. But wildfire has traditionally been thought of as a ‘secondary peril’ – is it due a promotion to ‘primary peril’?
Political issues, such as regulatory requirements for providing coverage in California, are also putting wildfire risk high on the insurance industry’s agenda.
This report reviews how wildfire risk has been changing over the years and what has been happening within insurance and risk management. We also profile the companies we know providing wildfire data and analytics, catastrophe models and technology to access and use this data.