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Article: New RMS View of U.S. Hurricane Activity Rates Increases Losses by 40% in Florida and Gulf Coast.
- Article from:
- PR Newswire
- Article date:
- March 23, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Elevated Storm Frequency and Intensity Expected To Persist For At Least Five Years
NEWARK, Calif., March 23 /PRNewswire/ -- Risk Management Solutions (RMS) today announced that increases to hurricane landfall frequencies in the company's U.S. hurricane model will increase modeled annualized insurance losses by 40% on average across the Gulf Coast, Florida and the Southeast, and by 25-30% in the Mid-Atlantic and Northeast coastal regions, relative to those derived using long-term 1900-2005 historical average hurricane frequencies.
This new view of risk is driven by an increase of more than 30% in the modeled frequency of major (Saffir-Simpson Category ...