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Wildfire modeling, especially when compared to hurricane and earthquake simulation models, is still in the early stages, which can make risk projections hard to pin down. (Credit: Christian Roberts-Olsen/Shutterstock.com) Wildfire modeling, especially when compared to hurricane and earthquake simulation models, is still in the early stages, which can make risk projections hard to pin down. (Credit: Christian Roberts-Olsen/Shutterstock.com)

When it comes to preventing and mitigating wildfire risk exposure, it has to be a team effort, says a new issue paper from the American Academy of Actuaries. The paper explores how recent western United States wildfires have pushed efforts to find ways to better understand this risk in order to properly address it.

“Federal, state and local government regulators and agencies, property owners and builders, actuaries and insurers all have a part in addressing this risk,” Jeri Xu, chairperson of the Academy’s Extreme Events and Property Lines Committee, which developed the issue paper, Wildfire: An Issue Paper—Lessons Learned from the 2017 to 2021 Events, said in a press release. “Fostering a healthy and fair insurance market for wildfire peril is a major public policy objective, and recent wildfire seasons have raised issues, challenges and opportunities for all stakeholders to consider.”

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Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected]

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