Insurers shift to predictive models and laser scans as wildfires defy historical patterns
By
CBC
Summary
Insurance experts and actuaries in Nova Scotia report that wildfires are increasingly defying historical patterns, behaving unpredictably due to climate change. As a result, insurers are shifting from relying on past claims data to using predictive models and technologies like laser scans (LiDAR) to assess wildfire risk more accurately. This shift means homeowners' insurance premiums may increasingly depend on forward-looking risk assessments rather than historical fire records, potentially leading to higher costs in high-risk areas.
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bskyInsurers shift to predictive models and laser scans as wildfires defy historical patternscbc.caKey quotes
· 3 pulled'Looking at models and model results is even more important than relying on past data,' says actuary
Actuaries and insurance experts say wildfires are not following historical patterns and are behaving in unexpected ways
Insurers are turning to predictive models to assess risk
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