Advanced Storm Surge Analytics Enhance Your Coastal Risk Profile
More than 53 percent of the U.S. population lives in a coastal county, where exposure to extreme weather systems is increasing annually. To reduce their risk exposure, property and casualty companies concerned about coastal exposure are implementing strategies to reduce risk—strategies that are often broad and range from statewide new-policy moratoriums, mandates against issuing policies within a certain distance of the coastline, or pulling out of coastal areas completely.
At CoreLogic, we provide increased granularity by combining five data sets—coastal surge risk, hurricane propensity, coastal water feature, mainland determination, and elevation—into an understandable, easy-to-use scoring method. We provide a more accurate, property-based methodology to understanding hazard risk information that improves underwriting by increasing your understanding of coastal risk exposure—without resorting to broad-brush exclusion strategies.
Storm Surge allows you to improve underwriting decisions, as well as:
- Reduce loss potential and adverse selection over traditional insurance practices
- Understand your potential for surge loss
- Determine the potential for hurricane losses resulting from storm surge
We can provide coastal surge and hurricane propensity files for the Atlantic and Gulf coastal areas exclusively, while other data sets cover all coastal waters and the Great Lakes.
