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U.S. wildfire risk, mitigation strategies assessed

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A newly released briefing assesses wildfire risk in the United States during a year in which insured losses from wildfires could top $1.75 billion.

Guy Carpenter & Co. L.L.C. released “U.S. Wildfire: An Ever Present Hazard,” which provides insight into the threat of U.S. wildfires, risk mitigation strategies, and portfolio modeling, Guy Carpenter said Monday in a statement.

According to data from the National Interagency Fire Center, more than 9.27 million acres were burned by wildfires through Oct. 8. The 10-year average is around 6.3 million acres.

Preliminary data suggests that 2015 insured losses from wildfires may approach or exceed $1.75 billion, according to the statement.

“Wildfires are a complex peril due to a number of varying prediction factors such as temperature, rainfall deficit and wind conditions,” James Waller, research meteorologist for Guy Carpenter said in the statement. “As winter approaches, a strong El Niño should bring much needed rainfall to most of California and the Southwest, However, the Northwest will likely continue to experience dry conditions through the winter.”