CoreLogic® Analysis Shows Billions in Potential Exposure to Residential Property Damage in Virginia Beach, Philadelphia, Washington, D.C., Providence, Boston and Atlantic City from Hurricane Irene Storm Surge
SANTA ANA, Calif., August 27, 2011 – CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released data showing potential exposure to residential property damage from Hurricane Irene storm surge flooding for Virginia Beach, Philadelphia, Washington, D.C., Providence, Boston and Atlantic City. An advisory for New York City and Long Island was issued earlier today and data for all these cities is included below. Hurricane-driven storm-surge flooding can cause significant property damage when high winds and low pressure causes water to amass inside the storm releasing a powerful rush over land when the hurricane moves on shore.
In a report issued Thursday, CoreLogic provided an estimate of the total number of both residential and commercial properties at risk in 12 major metro areas within the projected cone of concern for Irene. The data and accompanying maps are available at http://cl.internal.cvic.com/corelogic/url.php?cin=2d2a2e2c2c.
For interview requests with CoreLogic subject-matter experts, contact Lori Guyton at 901-277-6066 or lguyton@cvic.com.
Methodology
CoreLogic generates storm surge data using the company’s comprehensive parcel database of property-level data. After identifying a region’s vulnerability to storm surge given on-shore and off-shore geographic attributes and population density, CoreLogic identifies all residential properties within a predicted storm surge area and analyzes it against the associated property value of each home.
About CoreLogic
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The company, headquartered in Santa Ana, Calif., has more than 6,500 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.