ARA Announces Release of its Most Advanced Hurricane Model in HurLoss® Series
18 Julio 2024 - 7:00AM
Applied Research Associates, Inc. (ARA) has announced the release
of its latest and most comprehensive version of HurLoss® Hurricane
Catastrophe Model software, including a greatly expanded full North
Atlantic basin event set, and the most advanced climate change view
in the market.
The latest version of HurLoss® includes a significant expansion
of regions and countries covered, providing a unified event set
covering the entire North Atlantic basin, including the U.S.,
Caribbean, Bermuda, and eastern portions of Canada, Mexico, and
Central America.
Climate conditioning (or climate change) is a major new
capability for HurLoss®. In addition to the standard long-term
historical and near-term warm sea surface temperature climatology
results, ARA is introducing future climate change based on several
critical environmental inputs from leading General Circulation
Models, which are used for weather forecasting and research.
This methodology was accepted by the Florida Commission on Loss
Projection Methodology in June of 2023, the first model
incorporating climate conditioning to receive approval.
Hurricane formation is especially responsive to the effects of a
rapidly changing environment, particularly warming sea surface
temperatures. However, ARA’s future climate modeling is not limited
to sea surface temperature, but also considers the concomitant
effects of wind shear and tropopause temperature, equally important
to the formation of hurricanes.
Faced with ever rapidly increasing pace of climate change,
insurers and other modeling stakeholders will benefit from this new
dynamic view, in addition to the traditional modeling industry
views of hurricane risk.
Additionally, HurLoss® will include the latest national land
cover data (NLCD 2019), high value home vulnerability, and the
latest building codes and additional wind zones for Florida.
This version is now available through Nasdaq Risk Modeling for
Catastrophes platform, on the OASIS Loss Modeling Framework.
The version will also soon be available on Moody’s Intelligent Risk
Platform as an independent third party model.
HurLoss®, the state-of-the-art model for insurers, reinsurers,
brokers, and ILS managers, has served as the basis for structural
design in hurricane-prone states since 1998 and used for federal
emergency management and mitigation planning nationwide in the U.S.
since 2003.
Available on multiple platforms, HurLoss® is the most widely
published and peer-reviewed model available to the insurance
industry for catastrophe modeling.
“HurLoss® provides insurers with a solid foundation of reliable,
proven hurricane modeling to help manage risk while keeping an eye
toward future peril,” said George Freimarck, ARA’s catastrophe
modeling business leader. “These enhancements will help ensure
HurLoss® continues to provide unparalleled insight into the
potential impacts of hurricanes.
About ARA
Applied Research Associates, Inc. (ARA) was founded in 1979 in
Albuquerque, New Mexico, to offer science and engineering research
to solve problems of national importance. ARA delivers leading-edge
products and innovative solutions for national defense, energy,
homeland security, aerospace, healthcare, transportation,
manufacturing, and insurance. ARA’s wind engineering expertise and
its state-of-the-art hurricane model, HurLoss®, provide an
independent and highly respected view of hurricane risk to
structural engineers, emergency managers, energy producers, and
property insurers. With over 2,000 employee-owners at locations in
the U.S. and Canada, ARA offers a broad range of technical
expertise in defense technologies, civil engineering, computer
software and simulation, systems analysis, biomedical engineering,
environmental technologies, and blast testing and measurement.
George Freimarck
Applied Research Associates, Inc.
gfreimarck@ara.com