Improves Coastal Risk Management by Pinpointing a Property’s Distance to Coastline and Assessing Storm Surge Flooding Risk
Although many storm hazards are associated with hurricanes, Storm surge flooding is known by experts to be the primary cause of hurricane property damage along the Atlantic coast, Gulf of Mexico and—under the right conditions—even inland waterways. In a matter of minutes, storm surge resulting from hurricanes can wipe out homes and businesses—including the comprehensive health of your portfolio.
The risk to insurers regarding coastal properties increased because of court decisions following Hurricane Katrina. And yet, many companies are still applying broad-brush exclusion strategies when underwriting policies along U.S. coastlines—or even deciding to withdraw from certain markets all together.
With the continuing surge of coastal development and about one-half the U.S. population living along coastlines, it’s a good chance that a large portion of your overall risk or growth opportunity exists along coastlines. It’s more important than ever that properties are accurately assessed using tools specifically designed for the insurance industry.
Don’t wait until it’s too late. Improve your coastal risk management before hurricane season begins.
Improve coastal risk management by combining four datasets—storm surge flooding risk, distance to coast, tsunami evacuation zones, and mainland determination—allowing you to more accurately:
- Assess a property’s risk of storm surge flooding. The data pinpoints a property’s distance to coastline unlike other products that utilize larger geographic areas such as zip code or county
- Establish the mainland determination and elevation of coastal properties without expensive and time-consuming on-site visits
- Evaluate an entire book of business for coastal risk exposure to improve your loss ratio
- Comply with state regulations for properties that are close to coastlines
- Understand the risk of property damage caused by coastal, storm surge, and associated riverine flooding
- Identify tsunami evacuation zones for homeowners in California, Hawaii, Oregon and Washington. The tsunami evacuation zones were mapped by analyzing past events, coastal elevation and topography, as well as the maximum wave height of a tsunami
- Access the coastal risk data layers for your business needs—either behind your firewall or through an easy and affordable, desktop tool which gives small companies the ability to make coastal—as well as other natural hazard risk assessments—at the parcel level.
