Karen Clark & Company (KCC) announced that its US Wildfire Reference Model Version 3.0 has completed review by the California Department of Insurance (CDI) under the new Pre-Application Required Information Determination Procedure (PRID), allowing insurers to utilize the model for ratemaking purposes.The PRID process marks a significant step for KCC, which was among the first modeling companies to participate in the new procedure. According to Glen Daraskevich, KCC Senior Vice President, the KCC wildfire model is already accepted for rate filings in 24 other states, and clients are looking to extend its use to California.Over several months, a PRID Model Advisor conducted a thorough review of the KCC Wildfire Model. This included interviewing KCC scientists and experts, along with analyzing detailed test cases to perform a scientific assessment of the model’s components.Dr. Dan Ward, KCC Senior Director of Model Development, explained that KCC scientists developed a physical modeling approach using high-resolution data and advanced scientific methodologies to accurately model wildfires. This approach accounts for factors such as high winds, vegetation, moisture, and topography, which influence wildfire spread. The methodology also incorporates the impacts of climate change and considers property and community-level mitigation efforts to promote wildfire risk reduction.Karen Clark, KCC CEO, stated that the company is dedicated to expanding insurance availability and supporting Commissioner Lara’s Sustainable Insurance Strategy. She noted that the PRID determination is a key milestone that provides insurers with KCC’s advanced models to support mitigation efforts and broaden coverage in wildfire-prone areas.Karen Clark & Company provides models, software, and consulting services for understanding climate, weather, and catastrophe risk. The company’s professionals specialize in catastrophe modeling and risk management, offering models for various perils including tropical cyclones, extratropical cyclones, severe convective storms, winter storms, wildfires, floods, and earthquakes across over 70 countries.