Mercury Insurance said it has submitted a filing based on California’s new regulation enabling catastrophe modeling to be included as a factor in ratemaking.
The filing is reportedly the first to use the Verisk Wildfire catastrophe model, which is designed to help estimate the impact of future catastrophic wildfire events.
The Verisk Wildfire Model for the United States was reviewed through the newly established Pre-Application Required Information Determination Procedure. The California Department of Insurance and Verisk…