Annual Meetings-Superstorm Sandy: Causes and Effects - Mark Bove, CPCU, ARe, Senior Research Meteorologist, Munich Reinsurance America

Superstorm Sandy: Causes and Effects - Mark Bove, CPCU, ARe, Senior Research Meteorologist, Munich Reinsurance America

Pdf Summary

The document discusses lessons learned from Hurricane Sandy, a superstorm that hit the Northeastern United States in 2012. It details the storm's history, including its development from a tropical depression to a post-tropical cyclone. The reasons behind Sandy becoming a "Superstorm" are explained, focusing on its path, large wind field, and extreme storm surge. The impacts of the storm, such as wind damage, precipitation, and storm surge in New York and New Jersey, are highlighted. Lessons on underwriting and catastrophe modeling from Sandy are outlined, including the application of hurricane deductibles, surge modeling accuracy, flood exposure data, and the importance of considering the location of contents when assessing flood risk. The document also discusses the impact of Sandy on the marine industry, emphasizing the risks faced by ports, warehouses, and yachts. Overall, the insights gained from Hurricane Sandy serve as valuable lessons for improving risk assessment and disaster preparedness in the future.

Asset Caption

Presented by:
Mark Bove, CPCU, ARe, Senior Research Meteorologist, Munich Reinsurance America

Keywords

Hurricane Sandy

Superstorm

Northeastern United States

2012

tropical depression

post-tropical cyclone

wind field

storm surge

underwriting

catastrophe modeling