Storm Surge Options Dialog Box

 

Storm surge is an abnormal rise in sea level accompanying a hurricane or other storm. You can include an estimate of the separately modeled storm surge losses when calculating losses for tropical cyclone events.

 

Storm surge does not apply to workers' compensation policies.

You can access this dialog box for exposure views and contracts in Portfolio mode and for contracts in Underwriting Contract mode. You can set defaults in the Administration Console.

The Storm Surge Options dialog box contains the following fields and buttons that enable you to set the storm surge percentage for each line of business (LOB) associated with the target for a catastrophe peril analysis. You can specify a single storm surge percentage that applies to the entire analysis or you can specify a storm surge percentage by individual LOBs.

Field

Description

Single Storm Surge %

Select this option, specify the percentage to apply to the entire analysis, and then click Apply.

Storm Surge % by LOB

Select this option to specify percentage by LOB.

Total Records

Displays the total number of LOBs associated with the target or targets for the selected catastrophe peril analysis.

Line of Business

Displays each line of business associated with the target or targets for the catastrophe peril analysis. You can specify a percentage for each LOB in the corresponding percentage field. The LOB values come from the selected analysis targets.

You can filter the Line of Business and Storm Surge % lists. You can easily apply the same percentage to multiple LOBs by selecting the LOB rows and then entering the percentage in the Update % field. You can also copy and paste values to and from an Excel spreadsheet.

 

Click the header of any column to sort the list of LOBs and percentages by that column.

Storm Surge %

Specifies the percentage of storm surge "leakage" for a line of business, meaning the percentage of tropical cyclone loss due to storm surge that is covered by the policy. Example

 

If you coded your exposure data for storm surge (using peril codes PSH, PWH+PSH, or PAL) before importing it the data into Touchstone, then Touchstone applies 100% of the modeled storm surge losses to the Loss Analysis. This overrides the default AIR storm surge assumption or any user-specified storm surge percentage. The default storm surge percentage varies by country and line of business.
 

If a property is covered for wind losses and for storm surge losses by different policies, you must model the property in Touchstone as two separate properties. Touchstone cannot apply different policy terms to the same location. Therefore, the best practice is to create a duplicate location, applying only the wind policy to the original location and only the storm surge policy to the duplicate location. Combine the two results in a Loss Group Analysis.

Apply

Saves your changes.

Reset Defaults

Resets all percentages to Touchstone defaults.

OK

Saves your changes and closes the Storm Surge Options dialog box.

Cancel

Enables you to close the Storm Surge Options dialog box without saving your changes.

Related topics

•       Creating a new catastrophe peril analysis

•       Setting Storm Surge and Precipitation Flood options

 

© 2020 AIR Worldwide. All rights reserved.

Touchstone 7.0 Updated September 03, 2020