KCC US Hurricane Model Version 5.0 Certified by the Florida Commission on Hurricane Loss Projection Methodology

BOSTON--(BUSINESS WIRE)--Karen Clark & Company (KCC) is pleased to announce that the KCC US Hurricane Reference Model Version 5.0 has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). KCC is the first model vendor to be certified under the latest FLCHPM standards.

KCC engineers and scientists have incorporated several key enhancements in the latest version of the KCC Hurricane Model, including new secondary building characteristics, new vulnerability functions for appurtenant structures, and updated vulnerability functions for manufactured homes. The update also brings full support for the modeling of law and ordinance coverage and roof actual cash value endorsements.

“Version 5.0 of the KCC Hurricane Model includes various advancements to vulnerability, which reflect how various building characteristics can withstand hurricane conditions,” said Dr. Shaoning Li, Principal Engineer. “Incorporating these functions into the model ensures that the underlying assumptions and methodologies reflect the latest residential structure inventories, building codes, and hurricane mitigation strategies.”

The latest update incorporates two additional years of climate data to remain up to date with the most recent changes in hurricane activity due to climate change.

These enhancements ensure that KCC continues to provide (re)insurers with the most reliable information for their pricing, underwriting, and risk management decisions.

“KCC is pleased to have completed the FCHLPM certification process, which remains the industry’s benchmark for evaluating model assumptions and methodologies,” said Glen Daraskevich, KCC Senior Vice President. “The rigorous process gives insurers and regulators confidence that the KCC model meets the highest scientific, technical, and actuarial standards, particularly as the risks associated with hurricanes continue to evolve.”

Established in 1995, the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) reviews and audits methodologies for projecting hurricane losses.

About Karen Clark & Company

Karen Clark & Company (KCC) provides advanced models, innovative software, and comprehensive consulting services for deeper insight into climate, weather, and catastrophe risk. KCC professionals are globally recognized experts in catastrophe modeling and risk management who work with company executives to enhance business strategies, competitive advantage, and financial results. KCC models cover tropical cyclones, extratropical cyclones, severe convective storms, winter storms, wildfires, floods, and earthquakes in over 80 countries. For more information, please visit www.karenclarkandco.com.