Catastrophe risk modeling firm AIR Worldwide (AIR) announced that it has updated its Severe Thunderstorm Model for the United States. The comprehensive update to the model features significant enhancements to all three model components: hazard, engineering, and financial. The improvements …
Severe thunderstorms have pummeled western and central Europe, according to catastrophe modeling firm AIR Worldwide, bringing extremely strong and damaging winds, large hail, rampant lightning strikes, and heavy downpours. The storms have affected a large area as far south as …
Catastrophe modeling firm AIR Worldwide (AIR) named Dr. Jayanta Guin executive vice president. In his new role, Dr. Guin will continue to direct AIR’s innovative research program as well as assist with strategic management of AIR’s overall business strategy and …
According to catastrophe modeling firm AIR Worldwide, as of the Australian Government Bureau of Meteorology (BOM) advisory issued on Wednesday April 9, 10 p.m. (Australian Eastern Standard Time [AEST]), Severe Tropical Cyclone Ita – classified as a Category 3 storm …
This winter has been the wettest in the United Kingdom since detailed data was first published in 1910, and the rainfall total for January was the highest recorded since 1766, according to catastrophe modeling firm AIR Worldwide. Beginning with a …
A recent poll by the Insurance Information Institute (I.I.I.) found that only one out of 10 American homeowners (10 percent) have earthquake insurance, compared with 13 percent in 2012. In western states, 22 percent of homeowners said they have earthquake …
Catastrophe modeling firm AIR Worldwide estimates that insured wind losses from Extratropical Cyclone Xaver will range between EUR 700 million and EUR 1.4 billion, with the majority of the losses in Denmark, Germany, and the UK. Losses also occurred in …
According to catastrophe modeling firm AIR Worldwide, following less than six weeks after Winter Storm Christian, Winter Storm Xaver hit north of Scotland during the overnight hours. Wind gusts of more than 140 mph (225 km/h) were recorded in the …
Catastrophe modeling firm AIR Worldwide estimates that total damage to residential, commercial, and agricultural properties from Super Typhoon Haiyan will range between $6.5 billion and $14.5 billion. However, because insurance penetration in the region is relatively low, AIR estimates that …
According to catastrophe modeling firm AIR Worldwide, in the three days since Super Typhoon Haiyan roared through the central Philippines, the scale of the devastation revealed in its wake continues to escalate. Preliminary analyses suggest that Haiyan (named Yolanda in …