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Regulating Hurricane Insurance Loss Costs Produced by Computer Models. Presented to the CAS Seminar on Reinsurance June 1-2, 2006 by Martin M. Simons MAAA, ACAS, FCA Public Actuarial Consultant. Florida Commission on Hurricane Loss Projection Methodology
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Presented to the CAS
Seminar on Reinsurance
June 1-2, 2006
Martin M. Simons MAAA, ACAS, FCA
Public Actuarial Consultant
Insurance Consumer Advocate
FHCF Executive Director
Executive Director of Citizens P.I.C.
Director of Emergency Management
FHCF Advisory Council Actuary
Florida OIR Actuary
P & C Company Actuary
Professor of Insurance Finance
Professor of Statistics
Professor of Computer Science
Professor of Meteorology
+ Official Hurricane Set
2. Is the model the same as that which has been accepted by the Florida Commission on Hurricane Loss Projection Methodologies (FCHLPM)?
If not, describe the major differences.
7. Provide details of the impact of each of the following criteria on the creation of the stochastic storm set:
9. Provide the 100 and 500 - year recurrence interval 3 second gust wind speeds for the following airport locations:
12. a) Describe the basis of vulnerability function development relative to Hawaii construction characteristics.
12. b) Describe the studies and methods used in the development of the building stock.
12. c) Describe the studies and methods used in the validation and verification of the building stock.
12. d) Describe the studies and methods used in the development of the vulnerability functions.
12. e) Describe the studies and methods used in the validation and verification of the vulnerability functions.
12. f) Describe the studies and methods used to determine that the construction characteristics within the model appropriately reflect Hawaii construction characteristics.
16. Provide the total aggregate zero deductible personal residential (homeowners plus dwelling policies) losses produced by your model for Hurricane Iniki.
17. Provide comparisons (in as much detail as model and data will allow) of actual losses with model output losses for Hurricane Iniki.
21. Provide the two dimensional instantaneous windfield for the island of Kauai at the time of landfall for Hurricane Iniki as developed by the model at a one-mile grid resolution.
Building Codes and Enforcement
Insurance Company Practices
Atlantic Tropical Cyclone Model V8.0
Program CLASIC/2 v8
HurLoss Version 3.4
USWIND 5.10/WORLDCATenterprise 3.8