Verisk Analytics Inc Achieves Milestone in Wildfire Model Review
Verisk Analytics Inc has completed the California Department of Insurance’s review of its Wildfire Model for insurance ratemaking purposes. This achievement marks a significant milestone in the company’s efforts to support insurance-driven resilience for property owners and communities.
The Wildfire Model is expected to help address California’s coverage crisis. Mercury Insurance has prepared a homeowners insurance rate filing using the newly approved model. This development aligns with Commissioner Ricardo Lara’s Sustainable Insurance Strategy, which aims to expand insurance coverage availability in California.
Key details of the review and approval process include:
- Verisk Analytics Inc is the first company to complete the California Department of Insurance’s review of its Wildfire Model.
- The review was conducted for insurance ratemaking purposes.
- Mercury Insurance has prepared a homeowners insurance rate filing using the newly approved model.
Company Performance
Verisk Analytics Inc’s stock price has shown a notable increase over the past three years. Investors who purchased shares at the time of the IPO now hold a substantial number of shares.