Menu

Reinsurance News

KCC submits flood model for certification in Florida

4th March 2020 - Author: Matt Sheehan

Catastrophe risk modeller Karen Clark & Company (KCC) has submitted its flood reference model to be certified by the Florida Commission on Hurricane Loss Projection Methodology.

Flooded sign image via 89.3KPCCThe firm claims that its flood model is the first to be submitted under the state of Florida’s flood model standards

The KCC Flood Reference Model includes coastal as well as inland flooding and is based current data and scientific techniques, including physically-based hydrologic and hydraulic simulation.

“This is the latest demonstration of KCC’s leadership in the catastrophe modeling industry,” said Karen Clark, KCC CEO. “(Re)insurers see flood as a potential growth area, and in order to write the business, they require credible high-resolution models they can have confidence in.

“KCC is very pleased to be leading the industry as the first catastrophe modeling company to subject our flood model to the most comprehensive, thorough, and objective external review process,” she added.

Glen Daraskevich, KCC SVP, also remarked: “What’s most impressive about the KCC Flood Model is that it is a very high 30-meter horizontal resolution model that can run on the RiskInsight platform along with the other KCC models. Furthermore, more than 100,000 high-resolution event footprints are viewable on demand down to the individual property level.”

And finally, Yuanhao Zhao, Senior Hydrologist at KCC, commented: “The KCC model has been challenging and exciting to work on. Considering that floods can cover thousands of square miles, building a model that delivers accurate high-resolution results across such a large scale is quite an achievement.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Pool Re completes record £2.4bn retro program

UK government-backed terrorism reinsurer Pool Re has completed placement of a £2.4 billion retrocession program, its largest to date. Led...

Close