Velocity HoldCo, the parent company for Velocity Risk Underwriters, announced a joint venture with Louisiana State University (LSU) on a Gulf Coast-central hurricane model. The model uses daily data to predict US hurricane seasonal activity, representing a significant advancement in …
Catastrophe risk modeling firm AIR Worldwide has updated its hurricane model for the U.S. to help insurers and reinsurers better understand and quantify the risk from hurricanes. The update features a hydrodynamic storm surge module that integrates storm parameters with …
When forecasters from the National Weather Service track a hurricane, they use models from several different supercomputers located around the world to create their predictions. Some of those models are more accurate than others. During Hurricane Sandy last October, for …
Property/casualty insurers appear to be in no rush to adopt a controversial revised catastrophe model that dramatically raises certain estimates of potential hurricane losses in the country. California-based modeling firm RMS released its revised hurricane model, version 11, in February. …
