Newark, Calif.-based Risk Management Solutions said today that based on results from its revised hurricane modeling, annualized insurance losses will jump 40 percent on average across the Gulf Coast, Florida and the Southeast.
The 40 percent increase, RMS said, is the result of increases to hurricane landfall frequencies in the company's U.S. hurricane model.
When compared to a pre-2004 historical baseline that was previously used quantifying insurance risk, the increases in modeled annualized losses are closer to 50 percent in the Gulf, Florida and the Southeast.
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