Moody's Wildfire Risk Model Successfully Completes California Department of Insurance Review Process
The Moody's wildfire risk model will allow insurers to leverage the model's advanced, science-driven analytics to assess and price wildfire risk. This enhanced risk assessment is designed to support a more resilient and accessible insurance market – particularly in wildfire-prone areas.
'At Moody's, we are committed to providing markets with transparent, scientifically rigorous tools to decode today's interconnected risks,' said Michael Steel, Head of Insurance Solutions at Moody's. 'Today's milestone marks a significant step forward in addressing the complexities of wildfire risk and promoting greater resilience for insurers, regulators, and homeowners alike.'
The Moody's RMS U.S. Wildfire Model v2.0 represents a major advance in capturing the complexities of wildfire behavior, including extreme urban conflagration events. A key feature of the model is its ability to directly account for property-level and community-wide mitigation efforts. By incorporating property-specific data aligned with California regulations, the model will empower insurers to recognize and reward homeowners for risk-reduction efforts, creating tangible incentives that strengthen resilience.
Moody's RMS U.S. Wildfire Model v2.0 was reviewed under the CDI's rigorous Pre-Application Required Information Determination procedure, which includes extensive examination of its hazard, vulnerability, and actuarial components. Already in use by leading global insurers, reinsurers, and financial institutions, the model is available on the Moody's RMS Intelligence Risk Platform™ along with Risk Modeler™ and ExposureIQ™ to support a full range of wildfire risk management activities.
About Moody's Corporation
In a world shaped by increasingly interconnected risks, Moody's (NYSE: MCO) data, insights, and innovative technologies help customers develop a holistic view of their world and unlock opportunities. With a rich history of experience in global markets and a diverse workforce of approximately 16,000 across more than 40 countries, Moody's gives customers the comprehensive perspective needed to act with confidence and thrive. Learn more at moodys.com.
'Safe Harbor' statement under the Private Securities Litigation Reform Act of 1995
Certain statements contained in this document are forward-looking statements and are based on future expectations, plans and prospects for Moody's business and operations that involve a number of risks and uncertainties. Such statements involve estimates, projections, goals, forecasts, assumptions and uncertainties that could cause actual results or outcomes to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements. Stockholders and investors are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements and other information in this document are made as of the date hereof, and Moody's undertakes no obligation (nor does it intend) to publicly supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise, except as required by applicable law or regulation. Factors, risks and uncertainties as well as other risks and uncertainties that could cause Moody's actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements are described in greater detail under 'Risk Factors' in Part I, Item 1A of Moody's annual report on Form 10-K for the year ended December 31, 2024, and in other filings made by the Company from time to time with the SEC or in materials incorporated herein or therein. Stockholders and investors are cautioned that the occurrence of any of these factors, risks and uncertainties may cause the Company's actual results to differ materially from those contemplated, expressed, projected, anticipated or implied in the forward-looking statements, which could have a material and adverse effect on the Company's business, results of operations and financial condition.
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