What is a Vulnerability Module?
The component of a catastrophe model that estimates damage to structures and contents based on hazard intensity.
Vulnerability Module
The component of a catastrophe model that estimates damage to structures and contents based on hazard intensity.
How it works in practice
After the hazard module generates a wind field for a simulated hurricane, the vulnerability module estimates damage. It applies damage functions that relate wind speed to repair cost for different building types. A reinforced concrete office in Miami might sustain 5% damage at 130 mph winds, while a wood-frame house at the same location might sustain 40%. These damage ratios feed into the financial loss calculation.
Related glossary entries
A
B
C
D
E
G
H
I
L
M
N
O
P
R
S
T
V
W
Z
Learn ILS properly with ILS101
Move from definitions into structures, pricing, triggers, reinsurance applications, and specialist risk topics.
Start Learning