Florida Commission has certified AIR Worldwide's 2010 US Hurricane Model on Hurricane Loss Projection Methodology (FCHLPM). AIR Worldwide is a provider of risk modeling software and consulting services.
According to AIR, the version 12.0 update to its US Hurricane Model will contain enhancements that encompass virtually every component of the model to provide a complete view of US hurricane risk.
The enhancements of version 12.0 includes: incorporation of new meteorological understanding on hurricane structure; a basin-wide catalog; a model domain expanded by three additional states to include 29 states and District of Columbia; and a detailed modeling of spatial and temporal variations in vulnerability.
The new version of US Hurricane Model will enable precise risk differentiation based on several factors including geography, construction, occupancy, year built, and individual building characteristics.
In addition to certification, the model has undergone external peer review. The hazard, vulnerability, and actuarial components of model, and also its implementation in the software, have been reviewed by scientists and engineers in those disciplines.
The 2010 US Hurricane Model will be available in Version 12.0 of CLASIC/2, CATRADER, and CATStation catastrophe risk management systems.