Florida Commission on Hurricane Loss Projection Methodology Certifies RMS Model 8.0.1a
Jul 24, 2009
On June 3, 2009 the RMS hurricane model was up for certification by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). Unexpectedly, the model was not certified due to a deadlocked vote regarding compliance with two out of 36 standards.
Today, the Commission agreed to offer RMS another hearing, allowing them to provide further information relating to the two standards in question. The FCHLPM unanimously approved the RMS model on the two standards in question, and has now certified version 8.0.1a of the RMS model for use in establishing residential insurance rates in the state of Florida.
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