Understand Your Portfolio-Level Winter Storm Risk

In February 2010, the Mid-Atlantic and New England regions of the United States experienced several winter storms, costing the re/insurance industry an estimated $2 billion in insured losses. A decade later and winter storms continue to wreak havoc, with two billion-dollar events occurring in 2018.

The U.S. Winter Storm Model is a fully probabilistic risk model that allows clients to run portfolio-level analyses for residential, commercial and industrial risk related to winter storms in the U.S.

Robust Vulnerability and Hazard Definition

The vulnerability functions for the different structural occupancy types are based on extensive claims data collected from the reinsurance industry and observation data.

Three hazard parameters are incorporated in the model:

  1. Snow depth (major structural damage)
  2. Snow and ice thickness (light to minor damage)
  3. Wind speed (wind damage)

Damage Types

Three damage types are represented in the U.S. Winter Storm Model:

Roof damage due to snow accumulation

Roof damage due to snow accumulation

Frozen and ruptured pipe damage

Frozen and ruptured pipe damage

Ice dam and eave icing

Ice dam and eave icing

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