Catastrophe modeler AIR Worldwide says its hurricane model has been certified by the Florida Commission on Hurricane Loss Projection Methodology.
The Commission certifies models for use by insurers for developing Florida residential and commercial residential property rate filings. AIR has consistently met the rigorous standards of the FCHLPM since the Commission's inception of model reviews in 1996.
"We're pleased that the AIR model met all the standards set forth by the Florida Commission," said Brandie Andrews, senior manager, consulting and client services, AIR Worldwide. "Certification by the Commission gives AIR model users increased confidence in employing our models for all of their catastrophe risk management activities."
The latest release of the AIR Hurricane Model for the United States incorporates the 2011 update of NOAA's Atlantic basin hurricane database. This includes storms through 2010 and reanalysis data through 1930.
The FCHLPM has also certified the hurricane models of Eqecat and Risk Management Solutions for use in residential rate filings.
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