Filed Under:Markets, Workers Compensation

Wildfire Risk at the Granular Level

Technology and Tools for P&C Insurers

When the flames ceased and the smoke cleared 476 homes and other personal property were burned—some property completely destroyed. The homeowners, who lived in Bastrop County, Texas, just east of Austin, were devastated by last year’s wildfire that consumed their homes and precious belongings.

The Bastrop Fire claimed the record for the highest amount of homes lost in a single fire in the state’s history. The destructive blaze cost a total of $325 million in insured losses.  As high temperatures and severe draught are blamed for the wildfires in Texas, a booming population moving into the moutnatins and foothills of the the Rocky Mountain Region is creating more risk, proving that wildfires are no longer a regional threat. The picturesque scenes of Colorado, Utah, Wyoming, and New Mexico landscapes are too tempting to resist. Meanwhile a growing threat rumbles throughout these areas snuffing out the beautiful scenes and families’ dreams.

“Most models appear to ignore fire behavior modeling, multiple fuel sources and the wild land/urban interface,” he says. Models need to take into account suppression capabilities, and more significantly, actual fire behavior science, according to Norman.

The data suite supports cat modeling with fire behavior science provided by Anchor Point Group Fire Management Consultants. Pitney Bowes is working with Anchor Point to change the sophistication of fire risk modeling.

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