Moody's Corporation announced on August 4, 2025, that its Moody’s RMS U.S. Wildfire Model v2.0 successfully completed the review process by the California Department of Insurance (CDI). This approval is a critical milestone for the company's insurance solutions.
The successful review enables insurers to utilize this forward-looking catastrophe model in their residential rate filings within California. This supports the state's Sustainable Insurance Strategy, aiming to stabilize its property insurance market by allowing for more accurate risk assessment.
The model's ability to directly account for property-level and community-wide mitigation efforts empowers insurers to recognize and reward homeowners for risk-reduction efforts. This regulatory endorsement enhances Moody's position in providing transparent and scientifically rigorous tools for complex risks.
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