Posts Tagged ‘North Carolina’



September 14th, 2017

Hurricane Irma - Update

Posted at 7:58 AM ET

hurricane-irma-9-13-smHurricane Irma was a large and destructive storm that rendered impacts to most of the Southeast United States including the Florida Keys as well as areas of the Caribbean. Impacts for areas of the Northern Leeward Islands and the Virgin Islands, as well as northern Cuba have been especially severe. For the United States, the most severe impacts have been in the Florida Keys due to both wind and storm surge, with flood impacts as far away as coastal Georgia and northeast Florida. Wind impacts extend from Tennessee to the Carolinas to Florida. At least 67 fatalities have been reported. It will take time to fully assess the full scope and severity of this ongoing event, and our first thoughts and concerns are with those directly affected.

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October 10th, 2016

Hurricane Matthew

Posted at 3:38 PM ET

hurricane-matthew-smHurricane Matthew became a rare Category 5 hurricane on the Saffir-Simpson scale, with maximum sustained winds of 160 mph. The hurricane followed the western edge of a subtropical ridge to inflict catastrophic damage to Haiti as a Category 4 hurricane before crossing eastern Cuba, and turning to the northwest through the Bahamas towards Florida.

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November 29th, 2012

Taking Control of Quantifying Your Natural Catastrophe Risk: Part II

Posted at 1:00 AM ET

Elizabeth Cleary, Managing Director, Valerie Kloepfer, Managing Director, Imelda Powers, Ph.D., Global Chief Cat Modeler, Sherry Thomas, Head of Catastrophe Management - Americas and James Waller, Ph.D., Research Meteorologist
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Why Do Results for North Carolina Differ So Dramatically Between ALPHA and GAMMA?

  • Overall frequency is similarly modeled for North Carolina in both ALPHA and GAMMA. However, GAMMA has slightly higher overall modeled frequency (historical view), while ALPHA has a measurably higher modeled frequency of Cat 3-5 storms for North Carolina, and therefore fewer lower severity Cat 1-2 storms versus GAMMA.
  • In the ALPHA model, North Carolina storms generally have larger footprints, pushing the storms further north and west, even producing losses in areas where GAMMA does not generate any loss. For a state like North Carolina, where there are high exposure values inland, this is generally a key driver for larger ALPHA losses in the state. Factors that could reverse the aforementioned ALPHA and GAMMA comparison are usually not strong enough to reverse the general statewide observations. Such factors include a larger GAMMA damage ratio especially at higher wind speeds (impacting coastal counties) and larger wind deductible impact modeled in ALPHA.
  • Inland portfolios modeled in ALPHA are impacted by ALPHA’s slower wind decay for storms making landfall in North Carolina, typically resulting in larger losses for those portfolios versus GAMMA. The example in Figure 2  from Hurricane Isabel shows losses going all the way up to northwest Pennsylvania, which seems to be consistent with the reported impacts of the storm. Historical storm loss footprints for Hugo (1989), Fran (1996) and Floyd (1999) show similar patterns, with GAMMA losses typically truncated geographically more so than observed for these actual events.

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November 28th, 2012

Taking Control of Quantifying Your Natural Catastrophe Risk: Part I

Posted at 1:00 AM ET

Elizabeth Cleary, Managing Director, Valerie Kloepfer, Managing Director, Imelda Powers, Ph.D., Global Chief Cat Modeler, Sherry Thomas, Head of Catastrophe Management - Americas and James Waller, Ph.D., Research Meteorologist
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Amidst the fast pace and frequent trends and changes in the market, a single business conversation can stand out. With the passage of time, one sees that it was a precursor to what would become a consistently held view - a sort of drumbeat of the times.

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