AIR’s modeled insured loss estimates for the United States include:
- Insured physical damage to property (residential, commercial, industrial, auto), both structures and their contents
- Additional living expenses (ALE) for residential claims
- For residential lines, 5 percent of modeled storm surge damage as wind losses
- For commercial lines, insured physical damage to structures and contents, and business interruption directly caused by storm surge (other flood losses are not modeled or reflected in estimates; business interruption losses include direct and indirect losses for insured risks that experience physical damage)
- For the automobile line, estimates reflect AIR’s view that insurers will pay 100 percent of the storm surge damage
- 2017 indexed take-up rates
AIR’s modeled insured loss estimates do not include:
- Losses paid out by the National Flood Insurance Program
- Losses resulting from the compromise of existing defenses (e.g., natural and man-made levees)
- Losses from the flooding of tunnels and subways
- Losses to uninsured properties
- Losses to infrastructure
- Losses to inland marine, marine cargo and hull, and pleasure boats
- Losses from extra-contractual obligations
- Losses from hazardous waste cleanup, vandalism, or civil commotion, whether directly or indirectly caused by the event
- Other non-modeled losses, including those resulting from tornadoes spawned by the storm
- Losses for U.S. offshore assets and non-U.S. property
