Analysis Settings pane (Loss)
Use this pane to configure catastrophe analysis settings.
Verisk provides two loss analysis templates: AIR Default Loss Template and Florida Rate Filing Analysis template. The latter template is used to run analyses only with the settings required by FLOIR (Florida Office of Insurance Regulation) for rate making. Some settings available to other analyses are not available in this template. For example, you cannot select a model and you can only select one of two Florida regulatory event sets. You can only select the Wind peril and cannot select event set filters, financial settings, or flexibility.
Field | Description | Can Include in Template? |
---|---|---|
Model | The model to use when performing this analysis:
|
Yes |
Region | The region to use for this analysis. Touchstone filters the list of events based on the selected region. | No |
Event Set | The event set to use for this analysis. Click ![]() |
Yes |
Perils | The perils and/or sub-perils to include in this analysis. Click ![]() |
Yes |
Event Set Filter | Indicates whether you have applied event set filters for this analysis.
To apply an event set filter, click ![]() ![]() |
Yes |
Demand Surge | To include demand surge, select With and then click ![]() |
Yes |
Financial Settings | Financial settings for this analysis. | Yes |
Disaggregation | Specifies whether you want Touchstone to perform disaggregation during this analysis. Select On or Off. | Yes |
Average Properties | Specifies whether you want Touchstone to apply average properties during this analysis. Select On or Off. | Yes |
For Invalid Con/Occ Pairs | Specifies the action that you want Touchstone to perform upon encountering
invalid construction/occupancy class code pairs during this analysis. Select
one of the following options:
|
Yes |
Flexibility | Specifies a series of flexibility-related settings for this analysis.
|
Yes |
Loss Modification Factor | Specifies whether to apply a loss modification template or multiple
templates for this catastrophe peril analysis. When selecting multiple
templates, Touchstone applies each
template independently, and will, therefore, generate the same number of
modified analyses. To apply a loss modification template or templates for
this analysis, select the desired template or templates . If you do not want
to apply a loss modification template, select None. If you have
administrative privileges, you can click |
Yes |
Custom Vulnerability | Select the custom damage function that you want to use. To add or edit a
custom damage function, open Model Builder by clicking ![]() |
Yes |
Custom Frequency | Enables you to select the custom frequency catalog that you want to use.
To add or edit a custom catalog, open Model Builder by clicking ![]()
|
Yes |
Baseline Analysis | Specifies whether you want to select a baseline analysis to use when running this catastrophe peril analysis. You can select an existing loss analysis as the baseline analysis. This option provides significant savings in amount of runtime and in database space, as the loss engine does not have to run Touchstone's original view again. To use a baseline analysis when running this analysis, select the desired baseline analysis. | No |
Move Marine Craft Geocodes to Coast | Specifies whether to move marine craft geocodes to the appropriate coast during this catastrophe peril analysis. If you do not want to move marine craft geocodes to the coast during this analysis, clear this check box. Since storm surge is the main driver of loss for pleasure boats and yachts, and the location information for those craft may be inland, Touchstone can move marine craft geocodes to the coastline during a loss analysis. This option can provide a better estimate of storm surge losses when the exact location of the marine craft is not available. To determine the geocodes to be moved, Touchstone uses the median storm surge losses from our Industry Exposure Database at the U.S. zip code and postal code levels. If the locations are coded with construction types 265, 266, or 267, and this option is selected, the geocodes are moved regardless of the geocode match level. Touchstone does not update the exposure data with the new geocodes. Selecting this option can result in higher or lower losses. | Yes |