—Reconstruction Cost Value of Homes in Extreme-to-Very High Risk Categories Total More Than $8 Billion—
IRVINE, Calif. — (BUSINESS WIRE) — August 22, 2018 — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released data analysis showing 48,617 homes in Hawaii with a total reconstruction cost value (RCV) of approximately $8 billion are at extreme-to-very high risk of hurricane-driven flood damage from Hurricane Lane. Based on the National Oceanic and Atmospheric Administration’s (NOAA) predictions, Hurricane Lane is expected to continue to weaken as it approaches the islands. In this analysis, CoreLogic data includes only single-family residential properties likely to be impacted by a lower category storm.
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CoreLogic Analysis of Total Number and RCV of Residential Properties for Hurricane Lane (Graphic: Business Wire)
The table below shows the total number of properties at risk for all levels of flood damage—from extreme to very low depending on storm size and path—as well as their accompanying RCV totals for the four most populated Hawaiian Islands that could potentially be affected. Due to Hurricane Lane’s weakening projections, the “Extreme” and “Very High Risk” totals are most representative of damage potential.
Visit the CoreLogic natural hazard risk information center, Hazard HQ™, to get access to the most up-to-date Hurricane Lane storm data and see reports from previous storms.
The CoreLogic Flood Risk Score (FRS) for this news is based on the detailed hydrologic and hydraulic engineering data from inland watersheds and coastal areas. The impact area delineation is based on the potential impact of storm surge and induced rainfall forecasting from Hurricane Lane. CoreLogic FRS adds new dimensions to flood risk assessment, as compared to legacy flood risk determination technology. Flood Risk Score evaluates flood impact by combining an integrated analysis of the flood area (horizontal dimension), flood elevation (vertical dimension) and comprehensive hydrology (watershed characteristics), providing more granular flood risk classification with FEMA Special Flood Hazard Areas (SFHAs) and beyond. CoreLogic methodology is designed to assess inundation risk for riverine flooding, coastal flooding and flooding from large water bodies (such as ponds and lakes).
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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.
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