RMS announces the release of its North American hurricane model suite, version 13.0, which has the ability to quantify the risk from catastrophic hurricane-driven storm surge, and includes new insights into future hurricane activity levels.
"Hurricane Sandy revealed just how real storm surge risk is," says Dr. Claire Souch, vice president, model solutions at RMS. "Our model shows there is a 20 percent chance that storm surge loss will be greater than wind loss for any U.S hurricane that makes landfall, which rises to almost 40 percent along the northeast coast of the United States. This is a risk the market can no longer afford to ignore."
Version 13.0 builds on RMS' storm surge methodology, which was initially launched in 2011. The model simulates the interaction between wind and surge throughout the entire lifecycle of each hurricane using a state-of-the-art hydrodynamic model.
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