Login:
Opta Client Care:1-855-218-0784      


Opta Newsroom

Opta launches Fire Underwriters Survey’s Wildfire Grading Index

Opta launches Fire Underwriters Survey’s Wildfire Grading Index
07 June 2017

TORONTO – The devastating losses in Kelowna, Slave Lake and Fort McMurray have led to a deeper understanding of the Wildfire Urban Interface Fire Risk in Canada. Fire Underwriters Survey (FUS), a division of Opta Information Intelligence, has studied these events and developed a new model for insurers to better understand the risk of wildfire-related losses.

For more than 100 years, FUS has published the Canadian Fire Insurance Grading Index, helping insurers understand and manage fire risk exposure. The new Wildfire Grading Index follows the same principal concept. The system provides standardized risk benchmarks for all areas of Canada using the best available technologies including GIS, geodatabases, weather databases, historical data, digital satellite imagery and advanced analytics tools. Local and provincial stakeholders can lower exposure by managing risk proactively.

Canadian insurers have requested that this Index be created to help manage the wildfire peril in terms of the risk of large losses for insurers as well as helping communities better understand and manage their risk. FUS is working with Partners in Protection and will seek input from the provincial forest management agencies to establish the criteria for how mitigation and suppression capacities are scored.

By creating an Index in a format that the Canadian insurance community is already familiar with, insurers can influence local communities to invest in effective mitigation practices, early detection systems and suppression capacity that will impact the resilience of the communities in the face of an increasing wildfire risk, and reduce the probability of catastrophic wildfire events in the future.

“This is another example of the Fire Underwriters Survey and Opta providing crucial fire protection data for Canadians,” says Greg McCutcheon, President of Opta. “We take great pride in helping insurers and all Canadians prepare and combat fire risk exposure.”

The new Canadian Wildfire Grading Index will be released in British Columbia and Alberta in mid-2017, with a full rollout nationwide by year’s end. For more information on the Fire Underwriters Survey Wildfire Grading Index, please contact:

Greg McCutcheon     
President     
Opta Information Intelligence     
T: 905-695-6575     
E: greg.mccutcheon@scm.ca     

Bikram Daulay     
Vice President of Marketing & External Communications     
SCM Insurance Services     
T: 780-930-5321     
E: bikram.daulay@scm.ca



Request More Info

Interested In:



  • iClarify Valuations - 2015 National Study

    The only desktop solution that lets you validate property data instantly, accurately and efficiently

  • The Power of iClarify in Rural Areas

    Find out what powers the accuracy of iClarify™ valuations in Rural Areas. Read more...

  • AutoVision

    Find out how one insurer used AutoVision to earn a 3.5:1 ROI in the first year of implementation.

  • Big Data, Analytics, and Baseball

    Predictive analytics has not been fully applied to the property side and the primary consequence has manifest to an $11 billion dollar insurance-to-value (ITV) challenge

  • iClarify Valuations: Ontario

    Ontario’s average variance is 0.67% between Contractor Estimate and iClarify™ Valuations. Find out what powers the accuracy of iClarify™ Valuations.

  • iClarify Valuations: Alberta

    Alberta’s average variance is -0.30% between Contractor Estimate and iClarify™ Valuations. Find out what powers the accuracy of iClarify™ Valuations.

  • iClarify Valuations: BC

    British Columbia’s average variance is -0.22% between Contractor Estimate and iClarify™ Valuations. Find out what powers the accuracy of iClarify™ Valuations.

  • iClarify Valuations: Quebec

    Quebec’s average variance is 1.66% between Contractor Estimate and iClarify™ Valuations. Find out what powers the accuracy of iClarify™ Valuations.

  • iClarify Valuations: Atlantic

    Atlantic Region average variance is 0.90% between Contractor Estimate and iClarify™ Valuations. Find out what powers the accuracy of iClarify™ Valuations.

  • CAA Insurance

    CAA Insurance was looking for ways to streamline their policy quoting process. Read more...

  • Savings with iClarify

    A leading Ontario insurance broker was looking for ways to streamline their renewal and quoting process. Read more...