For many recent hurricanes the damage caused by the storm surge far outweighed the wind-driven impacts but many storm surge models have been shown to underestimate the potential insured losses.
For many recent hurricanes the damage caused by the storm surge far outweighed the wind-driven impacts but many storm surge models have been shown to underestimate the potential insured losses.
Uncertainty in the science of catastrophe risk, and how this translates into modeling, has always been a hot topic, not least following Risk Management Solutions updates to its U.S. Hurricane and Europe Windstorm models last year.
Innovations in science and the availability of storm data have led to a refined approach for assessing inland storm decay, building vulnerability, and storm surge. Insurers can utilize these innovations to prepare for the predicted “above-average” levels of activity ahead.
