Claims News Service, 1:45 p.m. EST — AIR Worldwide (AIR), a risk modeling and technology firm that specializes in natural and man-made catastrophes, weather and climate, has released a new model designed to help insurers understand their high-risk exposures and potential losses relative to wildfires. According to the company, the model will help manage wildfire risk both for individual policies and entire portfolios of properties in California.
Insured losses from wildfires are influenced by factors such as local fuels (vegetation), topography, weather, and the vulnerability of affected structures. The wildfire model analyzes these factors as well as estimates the mitigating impact of fire breaks created in the course of fire suppression activities, according to the company. Other mitigating factors, such as fire-resistant roofing and siding materials, also are used to build an estimate of damage and loss.
More information is available at www.air-worldwide.com.
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