FCHLPMFlorida Commission on Hurricane Loss Projection Methodology
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The FCHLPM has also certified the hurricane models of Eqecat and Risk Management Solutions for use in residential rate filings.
In addition to its long-term hurricane model, provided to the FCHLPM and clients, EQECAT offers to clients a supplemental "near-term" hurricane loss estimation view which provides the prospective hurricane risk presuming higher hurricane activity than the historical average.
Achieving the modeling standards set forth by the FCHLPM is important to the insurance industry.
The EQECAT Hurricane model met all requirements established by the FCHLPM, including those covering vulnerability, validation, computing, statistics, and the actuarial use of modeled loss costs.
To be certified, a company must meet a number of requirements set by the FCHLPM.