Verisk Expands Collaboration with NFPA to Provide Wildfire Risk Data to Western U.S. States
Verisk, a global data analytics and technology provider, has announced an expansion of its partnership with the National Fire Protection Association (NFPA) to deliver valuable wildfire risk and mitigation data to 12 additional states in the western United States. The collaboration aims to support the insurance industry in navigating the changing regulatory environment related to wildfires.
Through their collaboration, Verisk and NFPA will leverage data from NFPA’s Firewise USA Program, which monitors thousands of communities engaged in wildfire mitigation efforts. Verisk will utilize this dataset to provide property-level analytics that can help insurers refine their underwriting processes and comply with regulatory requirements.
Under the extended agreement, Verisk will expand its license from California to include mitigation insights for the remaining western coverage states, namely Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, Washington, and Wyoming.
Michele Steinberg, the wildfire division director at NFPA, stressed the importance of accurately assessing communities’ proactive mitigation efforts and expressed enthusiasm regarding the extended collaboration. She stated, By tracking annual community participation in the Firewise USA Program and sharing that data with Verisk, we can help keep them informed about mitigation activities at a more granular level.
Doug Caccese, the president of risk assessment at Verisk, expressed excitement about the expanded alliance with NFPA and the ability to utilize community-level mitigation insights throughout the western U.S. He emphasized that the newly developed Wildfire Risk Reports from Verisk would provide carriers with additional information to support a more comprehensive risk management strategy for wildfires in these states.
The Wildfire Risk Reports generated by Verisk offer a range of valuable insights, including an overview of wildfire risk at a glance, key mitigation details, concentration of structures with high to extreme wildfire risk at the county level, risk in the Wildfire Urban Interface (WUI), construction insights, reconstruction trends, and claim severity totals.
Interested parties can download state-specific wildfire risk reports from Verisk to explore the extent of wildfire risk and access vital mitigation information.
Verisk, a leading global provider of data-driven analytical insights and solutions for the insurance and energy industries, aims to empower its customers through advanced data analytics, software, scientific research, and deep industry knowledge. The company helps customers strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and make informed decisions about global issues such as climate change, extreme events, and political/environmental/social governance (ESG) matters.
Founded in 1896, NFPA is a global self-funded nonprofit organization focused on eliminating death, injury, and property and economic loss due to fire, electrical, and related hazards. The association delivers valuable information and knowledge through over 300 consensus codes and standards, research, training, education, outreach, and advocacy. NFPA also collaborates with partners who share a common interest in promoting its mission.
Verisk’s expanded collaboration with NFPA is set to provide the insurance industry in the western United States with crucial wildfire risk and mitigation data. With access to these valuable insights, insurers will be better equipped to assess and manage wildfire risks, ultimately leading to more effective risk management strategies and regulatory compliance.
About Verisk
Verisk provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research, and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and make informed decisions about global issues, including climate change and extreme events, as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
About the National Fire Protection Association (NFPA)
NFPA is a global self-funded nonprofit organization established in 1896. Its primary mission is to eliminate death, injury, property, and economic loss caused by fire, electrical, and related hazards. The association achieves this mission through the delivery of information and knowledge via over 300 consensus codes and standards, as well as through research, training, education, outreach, and advocacy. NFPA collaborates with partners who share its commitment to furthering its mission. For more information about NFPA, visit www.nfpa.org. All NFPA codes and standards are available for free online viewing at www.nfpa.org/freeaccess.
