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Verisk’s AIR Updates Its Terrorism Model to More Comprehensively Model Damage from Conventional Bomb Blast Attacks

Verisk’s AIR Updates Its Terrorism Model to More Comprehensively Model Damage from Conventional Bomb Blast Attacks

BOSTON, June 22 (Korea Bizwire) — Catastrophe modeling firm AIR Worldwide announced that it has updated its Terrorism Model for the United States to more comprehensively model the extent of damage from conventional bomb blast attacks. Starting with the size and location of the bomb, the model propagates the appropriate blast intensity within a built [...]

Insurance Industry Continues to Select Verisk’s AIR as its Modeler of Choice for Catastrophe Risk Management, Including Class of 2020

Insurance Industry Continues to Select Verisk’s AIR as its Modeler of Choice for Catastrophe Risk Management, Including Class of 2020

Boston, May 20 (Korea Bizwire) — Catastrophe modeling firm AIR Worldwide announced that newly established international insurance and reinsurance companies from the “Class of 2020,” have selected AIR as their modeler of choice to help manage their catastrophe risk. The so-called Class of 2020 is a group of insurance, reinsurance and specialty companies formed in [...]

Climate Change Could Cut Corn Belt Crop Yields by Up to 40 Percent by Increasing Unfavorable and Extreme Weather by Mid-Century, According to a New Report

Climate Change Could Cut Corn Belt Crop Yields by Up to 40 Percent by Increasing Unfavorable and Extreme Weather by Mid-Century, According to a New Report

Boston, April 28 (Korea Bizwire) — Thirteen states in the United States, known as the Corn Belt, are responsible for 90 percent of the corn grain and produce in the country and almost 30 percent of the global corn crop. Using climates projected by four climate models as inputs, simulated yields across the Corn Belt [...]

AIR to Make its Catastrophe Exposure Database Schema Available as an Open Standard

AIR to Make its Catastrophe Exposure Database Schema Available as an Open Standard

Boston, March 1 (Korea Bizwire) — Catastrophe modeling firm AIR Worldwide today announced that it is making its Catastrophe Exposure Data Exchange (CEDETM) database schema available as an open standard in order to facilitate accurate, efficient and transparent data exchange throughout the insurance value chain, allowing companies to make better risk management decisions. AIR Worldwide [...]

AIR Worldwide Collaborates with Experts at the Brookings Institution and AXIS Capital to Quantify the Impact from Climate Change on Hurricane Risk

AIR Worldwide Collaborates with Experts at the Brookings Institution and AXIS Capital to Quantify the Impact from Climate Change on Hurricane Risk

BOSTON, Jan. 19 (Korea Bizwire) — Catastrophe modeling firm AIR Worldwide (AIR), in collaboration with experts from the Brookings Institution and AXIS Capital Holdings Limited, released a report which explores how climate change may affect hurricane risk in the United States by 2050, specifically related to financial losses to residential and commercial properties. AIR Worldwide is a [...]

AIR Worldwide Provides Annual Global View of Risk

AIR Worldwide Provides Annual Global View of Risk

Boston, Nov. 16 (Korea Bizwire) — Catastrophe modeling firm AIR Worldwide (AIR) today released its 2020 Global Modeled Catastrophe Losses report, detailing key loss metrics from AIR’s global industry exceedance probability (EP) curve. Based on the report, AIR estimates that the global modeled insured average annual loss from catastrophes worldwide is nearly USD 100 billion. The 1 [...]

AIR Worldwide Estimates Insured Losses for Hurricane Zeta Will be Between USD 1.5 Billion to USD 3.5 Billion

AIR Worldwide Estimates Insured Losses for Hurricane Zeta Will be Between USD 1.5 Billion to USD 3.5 Billion

Boston, Nov. 2 (Korea Bizwire) — Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Zeta’s winds and storm surge will range from USD 1.5 billion to USD 3.5 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. Hurricane Zeta made landfall at 4 p.m. CDT on October 28 [...]

AIR Worldwide Estimates Insured Losses for Hurricane Delta Will be Between USD 1 Billion and USD 3 Billion

AIR Worldwide Estimates Insured Losses for Hurricane Delta Will be Between USD 1 Billion and USD 3 Billion

Boston, Oct. 14 (Korea Bizwire) — Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Delta’s winds and storm surge will range from USD 1 billion to USD 3 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. Hurricane Delta made landfall on October 9 around 6 p.m. CDT near Creole, Louisiana, as a [...]

AIR Worldwide Releases Updated Multiple Peril Crop Insurance Model for China

AIR Worldwide Releases Updated Multiple Peril Crop Insurance Model for China

Boston, Sept. 22 (Korea Bizwire) — Catastrophe risk modeling firm AIR Worldwide (AIR) today announced that it released an updated Multiple Peril Crop Insurance (MPCI) Model for China to support probabilistic assessments for five newly modeled crop lines of business and a newly modeled sub-peril. This update also includes a new livestock module that adds [...]

AIR Worldwide Estimates Insured Losses for Hurricane Sally Will be Between USD 1 Billion and USD 3 Billion

AIR Worldwide Estimates Insured Losses for Hurricane Sally Will be Between USD 1 Billion and USD 3 Billion

Boston, Sept. 21 (Korea Bizwire) — Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Sally’s winds, storm surge, and inland flood will range from USD 1 billion to USD 3 billion, with wind representing the majority of the losses. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. After meandering across the Gulf, Sally made a [...]