Hurricane Michael Wind and Storm Surge Cause An Estimated $3 Billion to $5 Billion in Losses, CoreLogic Analysis Shows - Seite 2

For major Gulf and Atlantic Coast hurricanes that impact the U.S. this year, CoreLogic is planning on providing pre-landfall data for the number and associated reconstruction cost value (RCV) of at-risk homes. For post-landfall data, CoreLogic plans to issue losses for wind and flood. Visit the CoreLogic natural hazard risk information center, Hazard HQ, at www.hazardhq.com to get access to the most up-to-date Hurricane Michael storm data and see reports from previous storms.

Methodology

The CoreLogic North Atlantic Hurricane Model includes improved location risk and estimation through its robust stochastic event set, high-resolution hazard modeling, component-level vulnerability, and usage of PxPoint, the structure- and parcel-level geocoding engine. With detailed and rigorously validated model outputs, the model provides the ability to calculate damage contributions from wind and storm surge, providing a transparent way of looking at loss as well as to obtain a better understanding of capital adequacy for the separate or combined perils of hurricane winds and coastal storm surge flooding. The model offers a complete view of the risk for all perils and sub-perils. The North Atlantic Hurricane Model is updated biennially and has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) since the inception of the process in 1997.

Source: CoreLogic

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