—Reconstruction Cost Value of all homes in hurricane path totals
more than $13.4 billion—
IRVINE, Calif.–(BUSINESS WIRE)–CoreLogic® (NYSE: CLGX), a leading global property
information, analytics and data-enabled solutions provider, today
released data analysis showing 57,002 homes in the Florida Gulf Coast
with a reconstruction cost value (RCV) of approximately $13.4 billion
are at potential risk of storm surge damage from Hurricane Michael based
on its projected Category 3 status at landfall. The storm’s size and
path could change over the coming days, so to keep parties informed,
CoreLogic will be hosting a pre-landfall
webinar on October 10 at 12:30 p.m. ET with updated figures to
reflect Hurricane Michael’s changing path and intensity.
The table below indicates the total number of homes with exposure to
storm surge risk given the current path of the storm, and the RCV
figures assume 100 percent destruction of all at-risk homes – and
represents the worst case scenario. The figures reflect the Core-Based
Statistical Areas (CBSAs) located along the Florida coast that could
potentially be affected.
Hurricane-driven storm surge can cause significant property damage when
high winds and low pressure cause water to amass inside the storm,
releasing a powerful rush over land when the hurricane moves onshore.
For a complete view of total storm surge risk for all 19 Atlantic and
Gulf Coast states and 86 CBSAs, download the 2018
CoreLogic Storm Surge Report.
For Gulf and Atlantic Coast hurricanes that impact the U.S. this year,
CoreLogic will provide pre-landfall data for number and associated
reconstruction cost value of at-risk homes and post-landfall data for
insured property loss for wind, surge and flood. Visit the CoreLogic
natural hazard risk information center, Hazard HQ™, at www.hazardhq.com
to get access to the most up-to-date Hurricane Michael storm data and
see reports from previous storms.
CoreLogic offers high-resolution location information solutions with a
view of hazard and vulnerability consistent with the latest science for
more realistic risk differentiation. The high-resolution storm surge
modeling using 10m digital elevation model (DEM) and parcel-based
geocoding precision from PxPoint™ facilitates this realistic view of
risk. Single-family residential structures less than four stories,
including mobile homes, duplexes, manufactured homes and cabins (among
other non-traditional home types) are included in this analysis. This is
not an indication that there will be no damage to other types of
structures, as there may be associated wind or debris damage and are not
tabulated in this release.
The data provided are for use only by the primary recipient or the
primary recipient’s publication or broadcast. This data may not be
resold, republished or licensed to any other source, including
publications and sources owned by the primary recipient’s parent company
without prior written permission from CoreLogic. Any CoreLogic data used
for publication or broadcast, in whole or in part, must be sourced as
coming from CoreLogic, a data and analytics company. For use with
broadcast or web content, the citation must directly accompany first
reference of the data. If the data is illustrated with maps, charts,
graphs or other visual elements, the CoreLogic logo must be included on
screen or website. For questions, analysis or interpretation of the
data, contact Alyson Austin at firstname.lastname@example.org
or Caitlin New at email@example.com.
Data provided may not be modified without the prior written permission
of CoreLogic. Do not use the data in any unlawful manner. This data is
compiled from public records, contributory databases and proprietary
analytics, and its accuracy is dependent upon these sources.
CoreLogic (NYSE: CLGX) is a leading global property information,
analytics and data-enabled solutions provider. The company’s combined
data from public, contributory and proprietary sources includes over 4.5
billion records spanning more than 50 years, providing detailed coverage
of property, mortgages and other encumbrances, consumer credit, tenancy,
location, hazard risk and related performance information. The markets
CoreLogic serves include real estate and mortgage finance, insurance,
capital markets, and the public sector. CoreLogic delivers value to
clients through unique data, analytics, workflow technology, advisory
and managed services. Clients rely on CoreLogic to help identify and
manage growth opportunities, improve performance and mitigate risk.
Headquartered in Irvine, Calif., CoreLogic operates in North America,
Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic logo, PxPoint and Hazard HQ are trademarks
of CoreLogic, Inc. and/or its subsidiaries.