Florida Commission on Loss Projection Methodology Approves AIR Worldwide Model Equivalency
Dec 22, 2016
The Florida Commission on Loss Projection Methodology (“FCHLPM”) advised today that the AIR Worldwide Atlantic Tropical Cyclone Model Version 15.0.2 as implemented in Touchstone Version 4.2.0 is acceptable under the FCHLPM’s 2013 Standards and is considered equivalent to the current acceptable model Atlantic Tropical Cyclone Model Version 15.0.1 as implemented in Touchstone Version 3.0.0.
The FCHLPM noted that the aforementioned Model is now acceptable for projecting hurricane loss costs and probable maximum loss levels for residential rate filings in Florida. This determination of acceptability expires on November 1, 2017.
To read the FCHLPM letter to AIR Worldwide, click here (Page Four).
To access the submission documents from 2013, click here.
The FCHLPM updated its summary of current acceptable models accordingly. To see the table, click here.
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