Abstract
Insurance rate filings involving hurricane perils are generally based on complex, numerical models that regulators often find difficult to adequately evaluate. This article outlines a process for developing a spectrum of plausible rates that can be used to evaluate hurricane rate filings in disaster prone states. Actual results from this process as used in Florida and North Carolina are included.
Volume
Vol. 22, No. 3
Page
39-64
Year
2004
Categories
Financial and Statistical Methods
Extreme Event Modeling
Natural Peril Modeling
Windstorm Models
Actuarial Applications and Methodologies
Ratemaking
Large Loss and Extreme Event Loading
Actuarial Applications and Methodologies
Regulation and Law
Rate Regulation
Business Areas
Homeowners
Publications
Journal of Insurance Regulation