A reinsurance brokerage unveiled a new classification system today that it claims gives a more accurate assessment of a hurricane's potential to cause damage than existing measures.
The Hurricane Damage Potential Index will allow insurers predict hurricane damage more realistically and effectively in the future as hurricanes approach landfall, said Dr. Steve Smith of the ReAdvisory unit of London-based Carvill reinsurance intermediaries.
The current Saffir-Simpson Hurricane Scale classifies hurricanes in categories from 1 to 5, while the HDPI provides a sharper picture of potential damage for the insurance and related industries, according to Carvill.
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