Coastal Risk
Download our Coastal Storm Surge White Paper
In a recent report published by the Special Projects Office of NOAA's National Ocean Service that updates an earlier version, it is projected that by year 2008, coastal county population is expected to increase by approximately 7 million.
To reduce potential lawsuits and risk from hurricane driven water, insurance companies have implemented moratoriums on new policies based on distance from coast or a combination of distance from coast and elevation.
While such practices have been widely accepted in the past, it's clear based on Proxix's analysis, that these methods are no longer practial.
• Insurance companies are under estimating their risks in certain geographies where surge risk is well beyond the buffer; and
• Significant revenues are being lost in exclusionary zones with no likelihod of inundation from storm surge.
Q: How does underwriting mitigate risk while populations within coastal counties rise and hurricane seasons remain active?
A: Proxix's Coastal Risk data.
Proxix's Coastal Risk combines Hurricane Driven Water (Storm Surge), Hurricane Propensity and Coastal Water Feature and Mainland Determination data to identify coastal risk exposure and develop overall risk ratings for their entire portfolio.
The Coastal Risk Database includes the following layers.
Hurricane Drive Water
Combines robust modeling of offshore and onshore variables with high resolution elevation data provides an understanding of the potential for surge losses.
Hurricane Propensity
With this data, insurers can measure the relative risk of a storm surge or wind event striking a Gulf or Atlantic coastal county.
Coastal Water Feature and Mainland Determination
Adding this data to Coastal Risk offers the information needed to accurately calculate distance to coast or other major water features and to determine if an address is located on a barrier island versus the mainland. The data contains coastal features for the Atlantic, Gulf and Pacific Coastal Waters and Great Lakes.
Use Coastal Risk within CATUM to accurately locate the insured property and understand your risk.
Learn more about our other databases: