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  "documentTitle": "Homeowner availability study",
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  "notes": "The slide uses a combination of bar and line charts to show the distribution of ZIP codes (bars) against premium metrics (lines) across wildfire risk buckets.",
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      "text": "It is also clear that regions with material wildfire exposure (15%+ of buildings in high-risk areas) tend to pay more for insurance, which highlights that wildfire exposure may be factored in the price of several carriers. However, It is important to note that this analysis is only one-dimensional. In practice, a variety of information is used by insurers to set insurance premiums, such as building features and cost of living. This information may differ greatly between wildfire areas and the rest of the state.",
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      "text": "Although this graph highlights a positive correlation between the size of premium increases and the exposure to wildfire risk, it is important to note that the amplitude between the smallest and the largest increases remains relatively small (+14% to +17%). This suggests that the rating actions currently taking place in Colorado are probably much broader in scope than the wildfire peril alone, although there seems to be some segmentation to that regard.",
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      "text": "Although this graph highlights a positive correlation between the size of premium increases and the exposure to wildfire risk, it is important to note that the amplitude between the smallest and the largest increases remains relatively small (+14% to +17%).",
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      "text": "Average premium increase vs wildfire risk in the ZIP code – 2022 YTD",
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      "text": "Average premium vs wildfire risk in the ZIP code – 2022 YTD",
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      "text": "Average premium increase: 17%",
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      "kind": "source-note",
      "text": "Source: Colorado “Homeowners MP” data surveyed from carriers as-of October 2022, filtered on “Homeowners” policy type, Guy Carpenter’s wildfire risk score, Oliver Wyman Analysis",
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      "text": "Although there is some correlation, it seems rate hikes have a much broader scope than wildfire exposure.",
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      "text": "CORRELATION ANALYSIS: WILDFIRE RISK VS PREMIUM METRICS",
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