November 07, 2011
BOSTON, Nov. 7, 2011 — Catastrophe risk modeling firm AIR Worldwide (AIR) released an inland flood model for Germany that offers a fully probabilistic approach for determining the likelihood of flood losses from all types of storms.
October 31, 2011
SINGAPORE, Oct. 31, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released the industry’s first Multiple Peril Crop Insurance (MPCI) Model for China. The new model provides a fully probabilistic approach for determining the likelihood of losses to the country’s major crops: corn, cotton, rapeseed, rice, soybeans, and wheat. The model captures the significant effects that weather-related perils have on each crop during the growth stage. This detailed information will help companies better prepare for and understand the exposure they carry based on China’s specific insurance programs, which tend to vary by province.
October 25, 2011
BOSTON, Oct. 25, 2011 Catastrophe modeling firm AIR Worldwide estimates that insured losses from the M7.2 earthquake that struck eastern Turkey Sunday, October 23rd, near the city of Van will be between 100 million TRY (55 million USD) and 300million TRY (170 million USD). (The range in losses results from uncertainties that exist in estimating earthquake source parameters e.g., magnitude, rupture length, depth, dipping angle, etc.)
October 24, 2011
BOSTON, Oct. 24, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released an update to its terrorism model for the United States. The model, which is used by insurers and reinsurers to assess potential losses to property and workers compensation risks, reflects less frequent and lower-severity attacks based on a reassessment of the threat by a team of leading terrorism experts.
September 22, 2011
BOSTON, Sept. 22, 2011 –Catastrophe modeling firm AIR Worldwide estimates insured losses from Typhoon Roke at between JPY 12 billion (USD 150 million) and JPY 46 billion (USD 600 million). Typhoon Roke, the 15th named storm of the 2011 Northwest Pacific typhoon season, made landfall near Japan’s Hamamatsu City in Shizuoka Prefecture at 2:00 pm local time (05:00 UTC) on September 21. Maximum sustained winds at landfall were 180 km/h, making Roke a strong Category 2 storm. Note that this is the same range announced for Typhoon Talas on September 7th. Despite the similarity in estimated losses, however, Roke—primarily a wind event—was very unlike Talas—which was primarily a flood event—from a meteorological perspective.
September 15, 2011
BOSTON, Sept. 15, 2011, -- Catastrophe modeling firm AIR Worldwide has revised its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between USD 200 million and USD 400 million (previously USD 300 million to USD 700 million). AIR’s loss estimates for other countries in the Caribbean remain unchanged as do the estimates for losses from Irene in the United States. With the new estimates for the Bahamas, AIR now estimates industry insured losses for all impacted Caribbean countries at between USD 400 million and USD 800 million. AIR’s estimate of insured losses in the United States from Irene remains unchanged at between USD 3 billion and USD 6 billion.
September 13, 2011
BILLERICA, MA – Sept. 13, 2011 – Trillium Software®, a business of Harte-Hanks, Inc. (NYSE:HHS), and a leading enabler of Total Data Quality solutions, announced today an agreement with AIR Worldwide, the scientific leader and most respected provider of catastrophe risk modelling software, to provide more precise geocoding through the integration of Trillium Software’s geospatial capabilities with AIR’s catastrophe modelling application.
September 12, 2011
MONTE CARLO, Monaco, Sept. 12, 2011 – Catastrophe risk modeling firm AIR Worldwide (AIR) released updates to its Extratropical Cyclone and Earthquake Models for Europe. Both models were significantly expanded to include additional European countries and provide a consistent and comprehensive assessment of the extratropical cyclone and earthquake risk throughout Europe.
September 07, 2011
BOSTON, Sept. 7, 2011 --- Catastrophe modeling firm AIR Worldwide estimates that insured losses from Tropical Storm Talas will be between JPY 12 billion (USD 150 million) and JPY 46 billion (USD 600 million). Talas is the season's 12th named storm, the seventh severe tropical storm and the fifth typhoon of the 2011 Pacific typhoon season.
August 29, 2011
BOSTON, Aug. 29, 2011 – Catastrophe modeling firm AIR Worldwide estimates that insured losses from Hurricane Irene to onshore properties in the U.S. will be between USD 3 billion and USD 6 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time element coverage (additional living expenses for residential properties and business interruption for commercial properties.