A Catastrophe Model for Assessing Wind and Flood Hazard Risk for Florida

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Abstract

The Florida Public Hurricane Loss Model (FPHLM) is a cat model for assessing risk to property due to hurricane winds. The FPHLM was developed by a consortium of universities and NOAA. While hurricane winds are the major hazard, flooding is also significant. The insurance market covers losses due to the hurricane wind, but until recently flood losses were only insured by the NFIP. Recently, the State has made moves to open the flood risk market to private insurers. The State developed standards for cat models of flood risk in anticipation of increased participation of insurers in the flood risk market. The FPHLM is undergoing an upgrade to comply with the new flood standards. The enhanced model includes an inland flood model for rain events, and a surge model for coastal inundation. We discuss the challenges of integrating the highly interdisciplinary systems, computational aspects of coupling of the components, and current progress.

Institutions
  • 1 Florida State University
Track
  • Environmental Sciences and Geography Modeling
Keywords
catastrophe model
natural hazard