According to the Environmental Protection Agency, there are around 70,000 wildfires in the US each year. Unsurprisingly, rising insurance claims have triggered an ‘insurance crisis’ preventing some businesses from buying cover on the domestic market because of the unacceptably high level of risk.
Wildfire Defense Systems (WDS) track wildfires across 22 US states on behalf of their insurer clients and act to protect structures, preparing them for the 2-20 minutes they will be in contact with fire – resulting in a 99% fire survival success rate.
With commercial businesses in California unable to buy insurance through the usual channels, WDS took the leap and launched a new syndicate at Lloyd’s. By offering insurance and deploying cutting-edge monitoring technologies, fire modelling and the application of fire-retardant gels to properties at risk, they can keep businesses in operation, provide for business continuity and reduce wildfire economic impact to society.