AIR releases updated US hurricane model
Catastrophe risk modelling firm AIR Worldwide has unveiled an updated version of its US hurricane model.
The update, aimed at helping re/insurers better understand and quantify the risk from hurricanes, features a new, fully hydrodynamic storm surge module.
The module integrates storm parameters with high-resolution elevation data to simulate location-specific storm surge inundation depth and extent. It also incorporates the 30-meter National Elevation Dataset (NED) developed by the USGS — the same data set used in the AIR inland flood model for the US.
“Hurricane storm surge can be devastating, resulting in substantial damage and high insured losses,” said Dr Tim Doggett, assistant vice president and senior principal scientist, AIR Worldwide.
“The steady growth in the value and density of property on the Gulf and East Coasts of the US is increasing the need for reliable information on storm surge risk. AIR’s new hydrodynamic storm surge module for the US hurricane model represents state-of-the-art modelling techniques and the latest research on storm surge hazard to accurately assess risk at very high resolution.”
He added: “Our view of hurricane risk in the US has been refined by new hazard data, enhanced modelling of storm surge and flood defences, and an improved understanding of building vulnerability.”
AIR’s model has been validated against more than $6 billion in claims data from client companies for recent hurricanes and more than $10 billion from AIR’s parent and sister companies.
