HurLoss Engineering Framework for Hurricane Risk Assessment

This technical report presents the HurLoss® engineering framework designed to evaluate the response of buildings to hurricane winds and the financial losses that result from such events. The framework accounts for various building characteristics and system behavior, resulting in a nuanced assessment of risk at both individual and portfolio levels. The report details the vulnerability modeling approach, which treats building features as an integrated system rather than as isolated components, ensuring a comprehensive evaluation of structural integrity under wind loading. Additionally, it outlines how HurLoss® translates physical damage into financial loss through empirical models and repair cost data, offering insights into factors such as building size, complexity, and roof cover aging. Key findings indicate that the relationship between wind speed and loss functions is not uniform across all structures, demonstrating the need for a tailored approach in understanding risk. The report concludes with the implications of these findings for underwriting and portfolio strategy.