London, October 18, 2021 – Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a business of Marsh McLennan (NYSE: MMC) has today announced the launch of a Wildfire Risk Score designed to help clients manage their exposure to the evolving risk of wildfire across Europe. The solution builds on the approach successfully deployed in the U.S. and adds an additional peril geography to Guy Carpenter’s climate advisory offerings.
Clients are now able to produce two scores, one for properties at risk across Europe and one for risk to forestry for the Nordic region. In addition, various climate change scenarios can be applied to modify the risk scores based on a series of variations over time ranging from near current climate to an increase of +3.0 degrees.
Wildfire Risk Score enables clients to generate risk scores ranging from ‘Very Low’ to ‘Extreme’ instantaneously for all properties in their European portfolio. These scores can be used to assess portfolio exposure levels and potential wildfire accumulation risks, or to support underwriting decisions at the individual risk level. Further, the data can be applied to climate change-related regulatory reporting requirements.
Available through GC AdvantagePoint®, Guy Carpenter’s global risk analysis and visualization platform designed to transform data into actionable insights, Wildfire Risk Score can be integrated into a company’s existing workflows via API.
Commenting on the launch, Dr. Jessica Turner, Managing Director, Catastrophe Advisory, Guy Carpenter, said: “The evolving threat posed by wildfire across Europe requires companies to adopt a data-driven approach to adequately assess their current and future exposures. This ground-breaking European Wildfire Risk Score will allow our clients to gain a more accurate understanding of both current risk and in a warmer world. The launch forms part of Guy Carpenter’s wider goal of supporting better underwriting and enhancing our industry’s resilience to a rapidly changing climate.”
Guy Carpenter, Marsh McLennan, MMC, Reinsurance, Property, Climate Change, Wildfire, Europe, Jessica Turner
About Guy Carpenter
Guy Carpenter & Company, LLC is a leading global risk and reinsurance specialist with more than 3,200 professionals in over 60 offices around the world. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Guy Carpenter is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 78,000 colleagues advise clients in 130 countries. With annual revenue of over $18 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses including Marsh, Mercer, and Oliver Wyman. For more information, visit www.guycarp.com and follow Guy Carpenter on LinkedIn and Twitter @GuyCarpenter.