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Hazard
Model Validation
Vulnerability
SCS Grab Bag
Post Event Response
100
True or False: Damage from debris impacts is more common in tornadoes than hurricanes.
What is True – Tornadoes usually have higher wind speeds than hurricanes. These winds are arranged in a tight vortex, which can lead to substantial debris that is centrifuged outward into areas that are exposed to low wind speeds.
100
True or False: Insurance claims data from historical events can be used to calibrate both the frequency and severity of severe thunderstorm losses.
What is True – Since most events are covered by insurance claims, this source of data can help to supplement the historical record. Claims can be particularly useful to constrain the geographic footprint of an event, and thereby better understand its severity.
100
What mean damage ratio would you expect for buildings affected by a major hailstorm? A. Less than 1% B. 1 to 10% C. 10 to 50% D. Greater than 50%
What is: B) 1 to 10% – Typical building damage ratios are less than 10% for buildings impacted by hail, but damage ratios are typically higher for autos.
100
For severe thunderstorm perils (tornado, hail, straight-line winds), which of the following catastrophe management processes benefits most from high-resolution geocoding of exposure data? A. Rate-making (estimation of pure premium) B. Post-event loss estimation C. Portfolio exceedance probability (EP) analysis
What is : B) Post-event loss estimation – The hazard gradient for severe thunderstorm perils is relatively low compared to other perils such as hurricane and earthquake. Therefore, estimates of risk, such as pure premium or EP losses, will not differ greatly for locations that are in close proximity. However, when individual events occur, particularly tornado events, losses tend to occur in very specific geographic areas and patterns. So, high resolution information is most useful when trying to estimate post-event losses.
100
This is released by RMS ASAP after an event occurs so clients can perform accumulation analyses.
What is the list of affected zip codes?
200
Which of the following U.S. states has the lowest risk (average annual loss) from severe thunderstorms (tornado, hail, and derecho)? A. Florida B. Pennsylvania C. Nevada D. Oklahoma
C) Nevada – Nevada, in the desert southwest, has a low exposure to severe storm perils. While intense thunderstorms can form in the desert southwest, their likelihood of producing tornadoes is much lower. Hail can occur in this region, but since the storms are rarely supercells, they do not often produce large hail. Lightning and flash flooding are more prominent severe thunderstorm threats in this region. Florida exhibits severe storm risk primarily through tornadoes spawned by tropical storms. Pennsylvania has moderate tornado, hail, and derecho risk. And Oklahoma is located in “tornado alley” where all of these perils are most common, and intense.
200
Which of the following components of severe thunderstorm loss typically requires the longest amount of time to settle all event claims? A. Hail B. Tornadoes C. Straight-line winds D.Hail and Tornado claims both require similarly lengthy periods to settle, but straight-line wind claims are typically settled very quickly. E. There is no noticeable difference in the amount of time required to settle claims for these three perils.
What is What is A) Hail – Hail claims may develop over 12-24 months, while most tornado and wind claims are understood within one to two months.
200
Which of the following factors has the biggest impact on mean damage ratios for buildings exposed to a major hailstorm? A. Number of stories B. Year of construction C. Roof shape (e.g. gable, hip) D. A and B have a similar impact on mean damage ratios for buildings exposed to a major hailstorm, but C (roof shape) is less important
What is A) Number of stories – Mean damage ratios are very sensitive to the number of stories since most hail damage occurs to the roof of the structure. The roof makes up a smaller percentage of the total value of the structure for multi-story buildings.
200
Which of the sub-perils of severe thunderstorm risk has the smallest contribution to extreme losses at the tail of the EP curve? A. Hail B. Tornado C. Derecho D. All three sub-perils contribute equally to extreme losses at the tail of the EP curve.
What is C) Derecho – Tornado and hail events are both important drivers of extreme losses at the tail of the EP curve. Derecho, while an important contributor to average annual loss, is not typically a driver for the most extreme events in the EP curve.
200
This is the second output released from RMS post-event when more information damage from the event is known.
What are intensity bands for each affected zip code?
300
Which of the following are reasons why the historical record of tornado and hail events may be incomplete, underestimating the total hazard? A. Lack of meteorological instrumentation to record events remotely B. Bias toward areas of human observation and populations C. Bias toward more severe events being reported D. Lack of detail on geographic extent of event footprint E. All of the above F. A and C only G. B and C only
What is E) All of the above - Lack of meteorological instrumentation to record events remotely; bias toward areas of human observation and populations; bias toward more severe events being reported; and lack of detail on geographic extent of event footprint are all reasons why the historical record of tornado and hail events may be incomplete.
300
Which of the following data sources is LEAST useful for determining the geographic footprint of a hailstorm event? A. Official reporting station measurements B. Radar imagery C. Eyewitness reports D. Insurance claims data
What is A) Official reporting station measurements – Official reporting stations measure rainfall accumulation, not hail size. While eyewitness reports can be very helpful in gathering measurements, there are typically not enough of them to constrain the geographic footprint of an event. Radar imagery and insurance claims data can both provide a more complete geographic description of the event. Claims data are particularly useful in highly populated areas with many individual point estimates.
300
Hurricane damage ratios are most similar to which SCS component (tornadoes, straight-line winds, hail)?
What is straight-line winds? The debris characteristics would be similar between the two; whereas in a tornado they would be somewhat different. Given the same type of building and the same construction standards, the use of claims information from hurricanes relates easily to understanding straight-line wind vulnerability.
300
The model considers a SCS "event" as: A) One day B) Three days or less C) Ten days of more D) A & B only E) A, B and C
e) A, B & C
300
True or false - eyewitness reports are used to estimate the event scale?
What is true
400
Which of the following correctly lists the sub-perils of severe thunderstorm risk based on their contribution to average annual loss in North America (highest contribution to lowest)? A. Hail, straight-line wind, tornado B. Tornado, hail, straight-line wind C. Hail, tornado, straight-line wind D. Tornado, straight-line wind, hail
A) Hail, straight-line wind, tornado – Hail contributes the majority of total average annual loss from severe thunderstorm events. Derecho is second, contributing about two times the amount of average annual loss as tornadoes.
400
List two of the five challenges faced when trying to use historical data to validate the model.
What is A) Limited period of data B) Incomplete sampling of events C) Variation in event definitions D) Uncertainty in loss estimates E) Uncertainty in adjustment processes
400
These are the first and second most critical secondary modifiers for calculating hail damage.
What are roof covering and cladding type?
400
List two of the three sources used for historical loss information
What is A) PCS P&C insurance loss data B) Published historical damages C) NCDC damage statistics
400
This is how RMS determines whether event response materials are needed to be produced.
What is comparing the SPC damage report to their exposure database to determine if the event occurs in a major urban area.
500
Which of the following return periods approximates the risk of an EF2 or greater intensity tornado at a single location in Oklahoma? A. 10 years B. 250 years C. 2,000 years D. 100,000 years
What is C) 2,000 years
500
Population growth (state level), annual inflation, growth in GDP and market penetration are components of this.
What are SCS loss adjustment factors?
500
This direct measurement is used to determine tornadoes strength: A) Wind speed B) Peak damage C) Size of supercell on radar
What is B) Peak damage - wind speeds cannot be accurately measured and are estimated by damage footprints
500
Researches determined the originial Fujita scale (overestimated/underestimated) the actual wind speeds necessary to damage or destroy a structure.
What is overestimated?
500
Give one of the three sources used to constrain the event footprint
What is A) Remote sensing data - satellites/radar B) Event reconnaissance/surveys C) Hi-res claims data