Twenty miles may have made a $150 billion difference. Estimates for the damage Hurricane Irma would inflict on Florida kept mounting as it made its devastating sweep across the Caribbean. It was poised to be the costliest U.S. storm on …
Researchers trying to figure out what makes some hurricanes strengthen into catastrophic monsters have a new lab that allows them to generate tropical storm conditions with the flip of a switch. The lab is at the University of Miami’s Rosenstiel …
South Carolina regulators have approved seven private catastrophe models for use in ratemaking while conducting a legislatively mandated study on the feasibility of constructing a public model. South Carolina Insurance Commissioner Ray Farmer recently signed-off on the first state-approved models …
The Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) has certified the latest version of AIR Worldwide’s hurricane model. The commission has been certifying models for use by insurers for developing Florida residential and commercial residential property rate filings since …
Executives of Florida’s state-backed insurer defended a proposed statewide average 11.2 percent increase in homeowners rates as regulators, consumer advocates and other officials questioned the need for the increases, citing a projected reduction in sinkhole claims, the use of computer …
