How to reduce wildfire losses by 30-60%
December 17, 2021 by Jason ContantIt’s a common misconception that “everything is completely gone” if you’re in the path of a destructive wildfire, said Michael Young, vice president of model product management with Risk Management Solutions Inc. (RMS). “One of the interesting facts that most people…
Why wildfire is moving into ‘peak peril’ range
May 14, 2021 by Jason ContantWildfire is now moving into the range of a “peak peril” type of risk, similar to earthquakes and hurricanes, Risk Management Solutions, Inc. (RMS) told Canadian Underwriter recently. Overall, in both Canada and the United States, wildfire risks are starting…
Canada’s worst-case wildfire scenario could see a $20-billion loss: RMS
May 13, 2021 by Jason ContantCanada could potentially see $20-billion loss events from wildfire alone, according to recent simulations by Risk Management Solutions, Inc. (RMS). The odds of that happening would be “extremely rare, on the order of a 1-in-10,000-year return period,” Michael Young, vice…
Wildfire damage is not like a Godzilla attack. Why that matters to Cat modellers
December 7, 2020 by Greg MeckbachA client’s structure can remain standing after a wildfire, even when other buildings in the same neighbourhood burn down, because dozens of factors affect a property’s risk, experts said Thursday during a webinar. “The interesting thing about wildfire is [that]…