Among the Most Common Natural Catastrophes

Severe convective storms are among the most common and most damage-inducing natural catastrophes in the U.S. Population growth and economic development have contributed to increases in the losses from this peril.

2011 was a record season with six EF-5 tornadoes hitting densely populated areas. According to the National Oceanic and Atmospheric Administration (NOAA), that year the aggregated insured losses from tornadoes were about $28B. This underscores the need to have a comprehensive probabilistic model which quantifies risk potential from severe convective storms and enable insures and stakeholders to make strategic decisions including but not limited to risk transfer requirements, capital adequacy, and ascertaining premium rates for insurers.

Innovative Hazard Methodology

The CoreLogic® U.S. Severe Convective Storm Model incorporates the latest science, research, post event data, and high-resolution modelling, capturing the extreme complexities of sub perils like tornadoes, hail, and straight-line winds and their impact on properties and automobiles across the lower 48 states in the U.S.

With around 4 million probabilistic events to capture risk and potentials of the sub perils, high-resolution modeling based on proprietary radar-based weather forensic algorithms, the U.S. Severe Convective Storm Model does risk better.

Benefits

Our U.S. Severe Convective Storm Model:

  • Is a high resolution, full simulation model and includes key scenario events
  • Has separate damage functions for each sub peril (tornado, hail and straight-line wind)
  • Supports a full range of structure types and accounts for roof types as well as RV and ACV for roofs
  • Is validated with claims data from historical events
  • Provides additional risk perspectives, considering the impact of ENSO cycles

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Insurance Solutions

Structural Risk and Valuations

Rather than rely on a standard industry percentage, get detailed intelligence on the structural risk and value of properties in your portfolio to ensure that your clients are not over or under-insured.

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Natural Hazard and Catastrophe

Assess your market position by accessing reports and data that give you a complete view of the risk to your portfolio.

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Roof Condition Solutions

CoreLogic offers tools to help you assess the roof conditions of prospective clients from your desktop.

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Weather Verification Services

Understand the impact of severe weather to empower you to make critical business decisions about your response.

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