CoreLogic Analysis Shows $36 Billion in Potential Exposure to Residential Property Damage Along Gulf Coast from Category 2 Hurricane Isaac Storm Surge

Media Contacts

Lauren Salay
lsalay@cvic.com
(202) 232.6627 (office)
(724) 561.2460 (mobile)

Lori Guyton
lguyton@cvic.com
(901) 277.6066

August 26, 2012, Santa Ana, Calif. –

MEDIA ADVISORY

 

UPDATED SUNDAY, AUGUST 26

 

CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, today released updated data showing potential exposure to residential property damage from storm-surge flooding should Tropical Storm Isaac strike the Gulf Coast as a Category 2 hurricane.

“It’s clear now that Isaac is heading into the Gulf, and according to recent forecasts, will potentially make landfall as a Category 2 hurricane,” said Dr. Howard Botts, vice president and director of database development for CoreLogic Spatial Solutions. “Though the forecasted path is still changing, at this point Isaac seems to be poised to strike the southwest coast of Florida late Sunday as a tropical storm and move on land as a Category 2 hurricane early Wednesday. The current cone of uncertainty puts the coast of Louisiana, Alabama, Mississippi and Florida at risk. Major metro areas that could potentially feel the impact of hurricane-driven storm surge include.; New Orleans, La.; Biloxi, Miss.; Pascagoula, Miss.; Mobile, Ala.; Pensacola, Fla. Panama City, Fla.; and Ft. Walton, Fla., depending on where the storm makes landfall.”

The data shows 269,081 total residential properties valued at approximately $36 billion in seven major metro areas along the Gulf Coast could be at risk for storm-surge related flooding, assuming the storm hits as a Category 2 hurricane. The number of residential properties in each metro area and their respective potential exposure to damage are as follows:

Metro Area

Number of Properties at Risk

Value of Properties at Risk

Biloxi-Gulfport

8,279

$773,903,525

Ft. Walton-Destin-Crestview

3,930

$859,421,147

Mobile

7,121

$703,234,200

New Orleans

222,672

$30,437,136,681

Panama City

7,668

$1,173,131,460

Pascagoula

13,006

$1,164,094,330

Pensacola-Ferry Pass-Brent

6,405

$942,180,625

Hurricane-driven storm-surge flooding can cause significant property damage when high winds, forward movement of the storm and low pressure causes water to amass in front of the storm, pushing a powerful rush over land when the hurricane moves on shore.  The CoreLogic analysis measures damage from storm surge and does not include potential damage from wind and rain associated with hurricanes.

To view a map showing hurricane-driven storm-surge risk through Google Earth, visit here. To download the map as a KML file, visit here. Static maps depicting storm-surge risk are available upon request.

For interview requests with CoreLogic subject-matter experts, contact Lori Guyton at 901-277-6066 or lguyton@cvic.com.

Methodology

CoreLogic generates storm surge data using the company’s comprehensive parcel database of property-level data for more than 131 million parcels nationwide.  After identifying a region’s vulnerability to storm surge given on-shore and off-shore geographic attributes and population density, CoreLogic identifies all residential properties within a predicted storm surge area and analyzes it against the associated property value of each home.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has approximately 5,000 employees globally. For more information, visit www.corelogic.com.

CORELOGIC and the stylized CoreLogic logo are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without express written consent of CoreLogic.