Verisk Wildfire Model is the First Catastrophe Model Under Review for Insurance Ratemaking in the State of California
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The California Department of Insurance has announced a new regulation allowing forward-looking catastrophe models for insurance ratemaking. Verisk's wildfire model is the first to be reviewed under this regulation, potentially impacting property insurance availability in California.
January 02, 2025 | 6:30 pm
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Verisk's wildfire model is the first catastrophe model under review for insurance ratemaking in California, following new regulations. This could enhance Verisk's market position in the insurance sector.
The new regulation by the California Department of Insurance allows forward-looking catastrophe models, and Verisk's model is the first to be reviewed. This positions Verisk as a leader in the market, potentially increasing demand for its services.
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