The new service provides insights at national, state, and local levels, helping insurers and underwriters better assess risks related to hurricanes and extreme weather events.
Top States for Hurricane Risk
According to HazardHub’s Hurricane Risk Model, the states facing the highest risk of hurricane damage, with a high percentage of properties rated “D” (high risk) or “F” (very high risk), are:
- Florida
- Louisiana
- South Carolina
- Texas
- Mississippi
- North Carolina
- Delaware
- Georgia
- Alabama
- Virginia
These states are most vulnerable due to their proximity to the coast, frequency of tropical storms, and likelihood of Category 1 or greater hurricanes.
States at Risk of Storm Surge
The percentage of homes at risk of storm surge flooding in high-risk states, as indicated by an ‘F’ rating in the HazardHub SurgeMax Storm Surge Flooding Model, include:
- Louisiana: 52%
- Florida: 34%
- South Carolina: 21%
- Delaware: 20%
- Virginia: 13%
- Mississippi: 9%
- North Carolina: 7%
- Texas: 5%
- Georgia: 4%
- Alabama: 3%
In Florida, nearly one in three homes, or about 3 million properties, are susceptible to storm surge flooding, making it one of the most vulnerable states for hurricane-related flooding. Louisiana, with 52% of homes at risk, faces significant exposure due to its low elevation, flat terrain, and coastal erosion, which exacerbates its vulnerability to both hurricanes and storm surge flooding. The Mississippi River Delta’s subsidence further intensifies the state’s flood risk.
The HazardHub SurgeMax Score, based on NOAA storm surge data and other geographical factors, is designed to help insurers better manage the risks associated with storm surge events in coastal areas.
“Understanding hurricane risk is vital for insurers and property owners alike, as it informs their coverage options, emergency plans, and mitigation strategies,” said Christina Hupy, Vice President, HazardHub at Guidewire.
She added: “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.”
Source: Guidewire
