CoreLogic Data and Climate Change Expertise Help Illustrate Hurricane Laura Aftermath
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, partnered with Justin Roberts, director of the 10-episode docu-series DO GOOD which showcases the inspiring relief work in Louisiana following Hurricanes Laura and Delta that devastated the community in 2020. CoreLogic provided insight into key property damage and weather forensic science for the docu-series which launched today.
“CoreLogic is committed to building and maintaining a healthy housing market, which we believe is essential to prosperous and vibrant societies,” said Sandra Carvalho, CMO of Corelogic. “This makes us a great partner for DO GOOD director Justin Roberts, who, after his hometown of Lake Charles was decimated by Hurricane Laura, was looking for support in bringing his docu-series to life. The series will highlight and benefit the nonprofit organizations that are working tirelessly to help rebuild the Southwest Louisiana community.”
CoreLogic provides property insights from financial and structural details to risk of catastrophe exposure and damage. CoreLogic combines its predictive modeling and hazard expertise to forecast with near complete certainty what could happen if a catastrophe occurs – incredibly important now that catastrophes are more frequent and severe. This partnership allowed CoreLogic to collaborate with Roberts to help tell this story and raise awareness of the impact of climate change on the housing market.
CoreLogic’s solutions and services play an integral role in climate change management as well as in natural hazard risk and post-event recovery. CoreLogic works closely with government agencies on climate management, including providing advanced weather models and identification of climate-related risks to help inform infrastructure planning and risk mitigation strategies.
“We build hazard and analytics models to really understand catastrophe impact to the entire real estate economy. Partnering with the DO GOOD creators gave us an opportunity to demonstrate data in action, to help tell the human side of the story—what happens to communities after a disaster strikes,” said Howard Botts, CoreLogic Chief Scientist. “Ultimately, we hope that by providing this level of knowledge and transparency, government agencies, insurers, and mortgage companies will be empowered to mitigate risk, protect better and help build stronger communities.”
CoreLogic’s unique value is its ability to provide a holistic, granular view of the entire property and risk ecosystem. According to CoreLogic data, in total, Hurricane Laura caused between $8 billion to $12 billion in insured losses. Within Lake Charles specifically, there were $7 billion to $11 billion in insured wind losses and up to about $150 million in insured storm surge losses. Thousands of homes were exposed to storm surge, flash flooding, flooding and hurricane winds. Within two months following Hurricane Laura, the Lake Charles mortgage delinquency rate skyrocketed to a staggering 16.4% (up from 8.9% pre-hurricane) as the community struggled with disaster recovery, made worse by the pandemic.
“When you have better information, you can make better decisions. CoreLogic provides the kind of information that will help communities better prepare for these types of catastrophes,” said DO GOOD Producer and Director Justin D. Roberts. “CoreLogic truly cares about communities that power the American housing market, and they have provided the scientific insight that’s been instrumental in helping us tell this important story.”
Each episode of DO GOOD will explore the work of one organization pitching in to help rebuild its community following a storm that damaged 95% of structures in Lake Charles, Louisiana. All monetized YouTube revenue will support the featured organization. To watch Episode 1 of DO GOOD, click here.
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit stage.corelogic.com.
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