Guidewire, a provider of software solutions to the insurance industry, has released critical data and maps detailing hurricane risk in the United States, with this being available at the national, state, and local levels.
Guidewire’s service leverages more than 1,000 data points and HazardHub risk scores for climate risks and extreme weather events.
The top ten states for hurricane risk are: Florida, Louisiana, South Carolina, Texas, Mississippi, North Carolina, Delaware, Georgia, Alabama, and Virginia, which bases its results on the percentage of properties rated as “D” (high) or “F” (very high) for hurricane risk.
From what we understand, these 10 states face the highest hurricane risk, factoring in the likelihood of Category 1 or greater hurricanes, proximity to the coast, and the frequency of tropical and subtropical events, among other factors too.
In addition, Guidewire also released the percentage of housing units at risk of storm surge flooding in high-risk states for hurricanes.
These are: Louisiana at 52%, Florida at 34%, South Carolina at 21%, Delaware at 20%, Virginia at 13%, Mississippi at 9%, North Carolina at 7%, Texas at 5%, Georgia at 4%, and Alabama at 3%.
Across Florida, the state at most significant risk for hurricane events, nearly one out of three homes are susceptible to storm surge flooding from hurricanes, therefore making it one of the most vulnerable states to flooding from hurricanes across the US.
Whereas, in Louisiana, the state with the second greatest hurricane risk, roughly 52% of homes are said to be susceptible to hurricane storm surge flooding.
It’s important to remember that Louisiana is highly prone to hurricanes and storm surge flooding due to its location along the warm waters of the Gulf of Mexico, as well as its low elevation and flat terrain, and the ongoing loss of protective wetlands and barrier islands.
In fact, the Mississippi River Delta’s subsidence further exacerbates the state’s vulnerability, ultimately making it one of the most at-risk areas for flooding during hurricanes.
Christina Hupy, Vice President, HazardHub at Guidewire, commented: “Understanding hurricane risk is vital for insurers and property owners alike, as it informs their coverage options, emergency plans, and mitigation strategies.
“HazardHub helps insurers better understand a property’s climate and hurricane risks at the individual address level, enabling more accurate underwriting of that risk. With this technology, property owners, meanwhile, are also better informed to be able to mitigate their risks and prepare for these events.”
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Publish date : 2024-09-19 19:01:00
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