Verisk Sets Precedent as First to Complete Wildfire Catastrophe Model Review Process in California for Insurance Ratemaking

JERSEY CITY, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- In a milestone for California’s evolving insurance landscape, the California Department of Insurance (CDI) has completed its review of the Verisk Wildfire Model for the United States for use by insurers in assessing wildfire risk and property insurance ratemaking. This is the first time a catastrophe model has successfully completed the evaluation under the state’s new regulatory framework, ushering in a new era of data-driven risk assessment in California.

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