Advancing Insurance Resilience:
A Historic Milestone for California Insurance

Verisk has become the first company to complete California’s new regulatory review process for wildfire catastrophe models used in insurance ratemaking. This milestone highlights Verisk’s leadership in data-driven risk assessment and supports a more stable, resilient insurance market for wildfire-prone communities.

First wildfire catastrophe model to complete review process in California for insurance ratemaking

The Verisk Wildfire Model for the United States reflects decades of wildfire science, engineering, and climate data to offer a forward-looking view of risk, enabling insurers to better price and manage wildfire exposure. It was evaluated through the California Department of Insurance’s Pre-Application Required Information Determination (PRID) process, part of the state’s Sustainable Insurance Strategy.

Why this matters for California

This determination marks a turning point for insurance availability in California. With this model, insurers gain a scientifically rigorous tool to better support property- and community-level mitigation efforts.

More accurate risk assessment using decades of wildfire science

Enhanced market stability by giving insurers actuarially sound pricing tools

Data-driven decision making that benefits both insurers and policy holders

Supporting materials resulting from the PRID process

To support the California Department of Insurance’s evaluation of the Verisk Wildfire Model for the United States, we submitted a comprehensive set of materials detailing the science, methodology, and regulatory alignment behind the model. This allowed the Model Advisor to make a determination of what information would need to be submitted as a part of an insurers rate filing.

The assets below include information about the Verisk Wildfire Model for the United States and the Required Model Information that insurers will submit as a part of their rate filings.