BOSTON, Sept. 13 (Korea Bizwire) — Extreme event modeling firm AIR Worldwide updated its insured loss estimates for Hurricane Ida after analyzing the inland flood impacts across the entirety of its track, including the Northeast. AIR now estimates that Ida’s insured industry losses will range from USD 20 billion to USD 30 billion. AIR estimates [...]
BOSTON, Sept. 3 (Korea Bizwire) — Extreme event modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from USD 17 billion to USD 25 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. AIR’s modeled insured loss estimates include insured physical damage to property (residential, commercial, industrial, auto), both structures [...]
BOSTON, July 28 (Korea Bizwire) — Extreme event modeling firm AIR Worldwide estimates insured losses in Germany from July flooding could approach EUR 5 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18. Germany’s Rhineland-Palatinate and North [...]
BOSTON, July 27 (Korea Bizwire) — Catastrophe risk modeling firm AIR Worldwide has announced the release of significantly updated AIR Earthquake and Typhoon Models for Japan. The past several years has reaffirmed the vulnerability of Japan to typhoons and earthquakes and prompted updates to AIR’s Industry Exposure Database, earthquake hazard and both earthquake and typhoon [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]