Predicting losses of residential structures in the state of Florida by the public hurricane loss evaluation model

Risk of Strong Hurricane Winds to Florida Cities

“…8). This is the area described by Hamid et al (2009) in an attempt to identify storms that could conceivably impact Florida. The Florida Commission on Hurricane Loss Projection Methodology (FCHLPM), created during the 1995 Florida legislative session to evaluate hurricane risk models, advises modelers to consider hurricanes in this area as a potential threat to Florida.…”

“…The Florida Commission on Hurricane Loss Projection Methodology (FCHLPM), created during the 1995 Florida legislative session to evaluate hurricane risk models, advises modelers to consider hurricanes in this area as a potential threat to Florida. This is done for the purposes of comparing different risk models used by the insurance industry (Hamid et al 2009;Jagger and Elsner 2009) by using a common set of hurricanes. The area encompasses cyclones that affect the panhandle, west, and northeast coasts of Florida, as well as cyclones that approach south Florida from the vicinity of Cuba and the Bahamas.…”

Efficiently integrating MapReduce-based computing into a Hurricane Loss Projection model

“…Over tens of thousand of years of simulation, the atmospheric component generates the storm tracks and wind fields for simulated storms based on stochastic algorithms and random historical initial conditions obtained from the historical record of the Atlantic tropical cyclone basin [11]. For each stochastic storm event, the output of the component consists of 3-second terrain corrected (i.e., taking into consideration the roughness of the terrain) gust wind speeds for each property affected by the event.…”

“…To ensure fair homeowner insurance rates, the state of Florida has developed the Florida Public Hurricane Loss Model (FPHLM) [11][5] [6], an open, public hurricane risk model to assess the risk of wind damage to insured residential properties. Since its activation in 2006, the FPHLM has been used more than 500 times by the insurance industry in Florida as well as by insurance regulators.…”

Sensitivity and Uncertainty Analysis of Expected Loss Costs in Hurricane Models

“…Finally, the insured loss model is responsible for generating loss costs depending on insurance policy features, and on particular wind speeds and how they affect different construction types. For further details on the FPHLM please refer to Hamid, et al (2008Hamid, et al ( , 2010). …”