CoreLogic, the Irvine, California-based information, analytics and data provider, is making its Canada Flood Risk Score and its Weather Verification Services available for hail in Canada.
The CoreLogic Flood Risk Score is a rating system that helps insurers assess properties for potential flooding risk from riverine, flash and coastal flood events, the company said Friday in a statement.
The CoreLogic Weather Verification Service for hail verifies the presence of hail at insured locations, and allows insurers to see the geographic extent during and after a hail event at the national or property level, and to receive proactive hail event notifications on impacted policies, the statement said.
“These easy-to-integrate, affordable solutions allow carriers to consume flood and hail event information for a specific location and ensure better policy and risk decisions can be made,” Mark Drollinger, senior product manager at CoreLogic, said in the statemen.
From 1900 to 2016, flooding in Canada has outranked all other types of natural disaster events in both frequency and monetary losses, according to Public Safety Canada, the statement said.
The May wildfires around Fort McMurray, Alberta, Canada, caused an estimated CA$3.58 billion ($2.77 billion) in insured damage, the Insurance Bureau of Canada announced Thursday.