Hurricane Irene - Media Advisory: Potential Damage to Mid-Atlantic & Northeast Regions
August 27, 2011, Santa Ana, Calif. –
CoreLogic® Analysis Shows Billions in Potential Exposure to Residential Property Damage in Virginia Beach, Philadelphia, Washington, D.C. and Atlantic City from Hurricane Irene Storm Surge
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released data showing potential exposure to residential property damage from Hurricane Irene storm surge flooding for Virginia Beach, Philadelphia, Washington, D.C., Providence, Boston and Atlantic City. An advisory for New York City and Long Island was issued earlier today and data for all these cities is included below. Hurricane-driven storm-surge flooding can cause significant property damage when high winds and low pressure causes water to amass inside the storm releasing a powerful rush over land when the hurricane moves on shore.
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Virginia Beach Residential Exposure by Storm Category
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Storm Surge Risk Level
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Total Properties Affected
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Total Residential Structure Value
|
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Category 1
|
59,168
|
$9,923,690,733
|
|
Category 2
|
144,340
|
$22,474,221,762
|
|
Category 3
|
212,143
|
$32,508,608,705
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Atlantic City Residential Exposure by Storm Category
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Storm Surge Risk Level
|
Total Properties Affected
|
Total Residential Structure Value
|
|
Category 1
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20,291
|
$4,809,752,976
|
|
Category 2
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26,987
|
$6,246,216,252
|
|
Category 3
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31,551
|
$7,315,122,543
|
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Philadelphia Residential Exposure by Storm Category
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Storm Surge Risk Level
|
Total Properties Affected
|
Total Residential Structure Value
|
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Category 1
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10,083
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$1,713,415,950
|
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Category 2
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56,698
|
$8,441,226,196
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Category 3
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84,200
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$13,478,265,504
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Washington, D.C. Residential Exposure by Storm Category
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Storm Surge Risk Level
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Total Properties Affected
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Total Residential Structure Value
|
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Category 1
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2,536
|
$458,766,256
|
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Category 2
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3,664
|
$776,151,704
|
|
Category 3
|
5,034
|
$1,166,522,618
|
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Boston Residential Exposure by Storm Category
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Storm Surge Risk Level
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Total Properties Affected
|
Total Residential Structure Value
|
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Category 1
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10,423
|
$2,941,850,372
|
|
Category 2
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31,671
|
$9,856,530,618
|
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Category 3
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55,209
|
$17,644,966,937
|
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Providence Residential Exposure by Storm Category
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|
Storm Surge Risk Level
|
Total Properties Affected
|
Total Residential Structure Value
|
|
Category 1
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6,887
|
$1,801,229,455
|
|
Category 2
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13,995
|
$3,648,126,366
|
|
Category 3
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22,410
|
$5,826,061,743
|
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New York City Residential Exposure by Storm Category
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|
Storm Surge Risk Level
|
Total Properties Affected
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Total Residential Structure Value
|
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Category 1
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7,188
|
$2,891,458,648
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Category 2
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14,752
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$6,044,306,051
|
|
Category 3
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22,866
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$9,164,705,424
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Long Island Residential Exposure by Storm Category
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Storm Surge Risk Level
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Total Properties Affected
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Total Residential Structure Value
|
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Category 1
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73,673
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$32,172,176,579
|
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Category 2
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130,029
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$53,391,342,005
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Category 3
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197,375
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$79,049,198,222
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In a report issued Thursday, CoreLogic provided an estimate of the total number of both residential and commercial properties at risk in 12 major metro areas within the projected cone of concern for Irene. The data and accompanying maps are available at http://www.corelogic.com/about-us/news/hurricane-irene-media-advisory.aspx.
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. 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 gMore 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 more than 6,500 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.
CoreLogic is a registered trademark of CoreLogic.
