Commemorating the start of the 2017 Hurricane season, CoreLogic, a leading global property information, analytics, and data-enable solutions provider, released its 2017 Storm Surge Report on June 1, 2017. Alarmingly, this report projects that almost 6.9 million homes along the Atlantic and Gulf Coasts are at potential risk of hurricane storm surge damage with a total Reconstruction Cost Value (RCV) of more than $1.5 trillion.
Karen Clark and Company has recently published findings indicating that the insurance industry’s revised hurricane damage models have not performed well over the past three years. Their conclusion is:
"Three years into the application of near term hurricane models, the model predictions have not performed well. While all three major catastrophe modeling companies predicted significantly