WILDFIRE RISK

Communities in danger

Homeowners and insurers face massive losses as wildfires burn like never before.

INSURING AGAINST WILDFIRE

Better data means better protection

Climate change and real estate development mean wildfires are growing bigger and more destructive, threatening families and their greatest assets: their homes. Now insurance companies must meet this increasing risk responsibly, with an eye toward the future.

That’s why insurers are joining forces with modelers, scientists, and fire service leaders to better quantify wildfire risk. Together, we can harness data and technology to help anticipate fires, mitigate their damage, and protect everyone. Explore how.

Milliman Climate Resilience Initiative

Drawing on our unique expertise in risk, we’ve united experts from insurance, government, academia, and non-profits to help anticipate and address the most pressing climate problems.

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Our latest wildfire insurance insight

Webinar

The WUI Data Commons: Driving wildfire resilience through data transparency

Experts from the insurance, fire service, catastrophe modeling and actuarial professions have come together to propose a solution: the WUI Data Commons.

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Podcast

Unmasking wildfire risk: Navigating insurance challenges and community solution

On the podcast “All Things Wildfire,” Milliman principal Nancy Watkins sheds light on the complex aspects of safeguarding properties and offers actionable insights.

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Article

Rebuilding the California property market: Reinsurance costs and recent reforms

With homeowner policy payouts rising in California due to wildfires and other disasters, we review the impacts of the state's prohibition against including reinsurance costs in rate filings.

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Article

A community-based solution: How actuaries and fire chiefs can tackle WUI risk together

Nancy Watkins spoke with two fire chiefs to explore how actuaries and insurers can work with fire professionals to drive down wildfire risk in the WUI.

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Podcast

How extreme heat affects insurance—and how the industry can respond

As a record-hot summer finally cools off, Milliman leaders discuss the implications of extreme heat on all types of insurers around the world.

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White paper

Understanding the new California wildfire rating requirements

Best practices for complying with Regulation 2644.9 and the impact on insurers

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White paper

Wildfire catastrophe models and their use in California for ratemaking

Catastrophe models are typically used to develop insurance rates for low-…

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Webinar

Addressing climate impacts on the U.S. insurance market: A cross-sector conversation

Amid news of large insurers leaving homeowners’ markets across the country…

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report

Town of Paradise California Resilience Challenge: Task 1 to Task 4

Risk reduction, climate change, and insurance premiums

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Press Release

The Western Fire Chiefs Association (WFCA) and Milliman establish synergistic alliance to intelligently drive down risk in the Wildland-Urban Interface

Milliman has an established expertise in WUI risk analysis through extensive…

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Webinar

Sparking Solutions: Wildfire Risk and Insurance

The third RFF Live event in the "Sparking Solutions" event series examining the…

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Article

Quantifying the benefits of wildfire mitigation

A blueprint for helping insurers offer credits when homeowners and communities…

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Article

Using catastrophe models to predict risk from wildfires and other natural disasters

Understanding, evaluating, and using the best tools available for predicting…

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Article

Building a climate risk management framework for U.S. P&C insurers

How a well-governed and structured insurer can build a lasting enterprise-risk-…

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Webinar

Preparing for global wildfire risk

What can other countries learn from Australia’s “Black Summer”…

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Article

Understanding California wildfire risk, part two: Zesty.ai risk score model

To better understand its exposure to wildfire, the California Fair Access to…

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Article

Trial by wildfire: Will efforts to fix home insurance in California stand the test of time?

As the 2020 wildfire season exceeds historical norms, California insurers and…

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Article

Wildfire catastrophe models could spark the changes California needs

Wildfire risk has become a key focus of California property insurers.

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Article

The California wildfire conundrum

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Video

Helping Paradise, California, rebuild

Milliman worked with researchers, local leaders, and other experts to create a sustainable future for the community, which was devastated in 2018 by the most destructive wildfire in state history.

Video

Fighting fire with data

Wildfire is not going away—but Milliman’s collaboration with firefighters and modelers is helping expand insurance access and create sustainable communities.

ARTICLE

Understanding California wildfire risk

During the 2020 season, wildfires destroyed more than four million acres—double the loss from the previous two years combined.

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Products

Related Milliman products

Geographic rating insights

PinPoint

Milliman PinPoint delivers relevant geographic rating insights to your system at the point of decision through a simple API.

Download the brochure

Market exposure & risk analytics

Market baskets

Market baskets are portfolios of hypothetical risks with realistic distributions of characteristics used for property and flood insurance pricing.

Property & casualty advisory services

Appleseed

Milliman Appleseed is an advisory organization licensed to submit loss costs, rating factors, and risk scores with state insurance regulators across the U.S.