Wildfire

New approaches to growing perils

Solution-oriented wildfire protection

Wildfires have become one of today’s most rapidly increasing, and devastating, natural catastrophes. Climate change factors like rising temperatures, unusually dry conditions, and human behavior are a few key drivers in wildfire escalation; the severity and scope of fires in California and many other states in recent years being powerful examples. Insurers are challenged to find new ways to measure this changing risk and continue to provide coverage in higher risk areas.

A partner delivering expertise and innovation

Munich Re US experts have closely studied wildfires for well over a decade and have invested in new ways to help insurers better manage wildfire risk exposure. Focused wildfire research has led to more up-to-date analyses of factors contributing to frequent, intense wildfires aiding in the development of:

  • updated tools for assessing wildfire hazard areas
  • best practices underwriting guidelines
  • new and improved risk control capabilities

Our goal: Help insurers better manage their portfolios in light of these evolving threats, by leveraging subject matter expertise and global business experience. 

Over 4.5 million homes in the US were identified at extreme risk of wildfire in 2019.1

Firebrand - Wildfire Digital Platform

FirebrandSM is our digital platform that delivers fast and seamless eligibility and pricing and enables our agile approach to wildfire (re-)insurance solutions:
  • Consultations to develop the underwriting, pricing and risk inspection guidelines
  • Custom application programming interface (API) developed for agents
  • Munich Re Wildfire Risk Layer to inform risk selection, rates and accumulation controls
  • Real-time Portfolio Accumulation Tracking and active management of product features to ensure spread of risk
  • Interactive dashboard to monitor performance and continue collaborating on product refinements
Contact our experts today
mark-bove
Mark Bove
Nat Cat Solutions Manager
Munich Re US
Jay Rosario
Jay Rosario
Strategic Products Team Lead - Inno/Tech
Munich Re US

Further Infomation

The material presented here is for your internal use only and may not be further distributed without the express written permission of Munich Reinsurance America, Inc. (“Munich Re US”) and/or Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München ("Munich Re"). No representation or warranty of any kind, whether express or implied, is provided with respect to the accuracy, completeness, or applicability of this material to any recipient’s circumstances. Munich Re disclaims any and all liability whatsoever resulting from use of or reliance upon this material. 

1. https://www.iii.org/fact-statistic/facts-statistics-wildfires#Wildfire%20%20Lossses%20In%20The%20United%20States,%20%202010-2019%20