The FCHLPM reviewed several aspects of the RMS Hurricane Model, including updates to the long term rate set to comply with changes in the HURDAT database, new geocoding updates, and new post-analysis adjustments for return period losses to account for annual deductibles required by Florida statute. This model version will remain certified for use in Florida rate filings until September 2015.
The RMS U.S Hurricane Model version 13.0 will be generally available on July 31, 2013.
All industry hurricane models must be certified by the FCHLPM for use in the rate filing process in Florida. The FCHLPM is an independent entity which is tasked with developing state-wide standards and conducting rigorous assessments of hurricane catastrophe models. The Commission employs a team of experts to verify the technical credibility of the science, engineering, actuarial methodology, and software that the model is based upon.
RMS models and software help financial institutions and public agencies evaluate and manage catastrophe risks throughout the world, promoting resilient societies and a sustainable global economy.