Verisk Analytics Inc. : Verisk Insurance Solutions - Underwriting Helps
Insurers Manage Texas Wildfire Risk
JERSEY CITY, N.J., January 10, 2013 - Verisk Insurance Solutions -
Underwriting, a unit of Verisk Analytics (Nasdaq:VRSK), today announced that
FireLine(TM) - its industry-leading wildfire risk management system - is now
available for Texas. FireLine assesses wildfire risk for individual properties
to support underwriting decisions and manage exposure concentrations. FireLine
has also been used in support of approved property insurance rate filings for
individual carriers in California.
"2011 was one of the worst years on record for wildfire losses in Texas," said
Neil Spector, president of Verisk Underwriting. "According to the Property
Claim Services [PCS] unit of Verisk Analytics, the Bastrop County wildfire
destroyed more than 1,600 homes and cost insurers $500 million. Companies
insuring properties in Texas need FireLine to identify properties at risk from
wildfires to effectively manage exposure concentrations in high-risk areas."
Originally designed in collaboration with leading California insurers,
FireLine identifies and provides a score for each property exposed to wildfire
risk. Scores are based on the three critical factors that contribute to
*fuels - trees, grass, and brush that feed wildfires
*slope - the grade of the surrounding land, which can influence speed and
intensity of wildfire
*access - the network of roads leading to the property
FireLine uses satellite imaging technologies developed by Verisk Analytics
subsidiary Atmospheric and Environmental Research (AER) to analyze and process
high-resolution satellite images that identify fuels, slope, and access in
relation to each at-risk property in Texas.
Access to FireLine is available in a variety of ways to support
straight-through-processing underwriting environments, detailed underwriting
analysis, and portfolio-level exposure concentration analysis.
In addition to Texas and California, FireLine is available in Arizona,
Colorado, Idaho, Nevada, New Mexico, Oregon, Utah, and Washington. Other
states can be added upon request.
About Verisk Insurance Solutions - Underwriting
A unit of Verisk Analytics (Nasdaq:VRSK), Verisk Insurance Solutions -
Underwriting is a leading source of underwriting information about
property/casualty insurance risk. Drawing upon vast experience in data
management, predictive modeling, and risk-assessment solutions, Verisk
Insurance Solutions includes the industry-leading brands of ISO, AIR
Worldwide, and Xactware. In the United States and around the world, Verisk
Analytics helps customers protect people, property, and financial assets. For
more information, visit www.verisk.com/insurance.
Jessica Riccardi/Giuseppe Barone
MWW Group (for ISO)
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Verisk Analytics Inc. via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.