AIR Worldwide announced that The Navigators Group, Inc., an international commercial property/casualty specialty insurance holding company, has selected AIR’s CLASIC/2™ and CATRADER® catastrophe modeling solutions to manage its global catastrophe risk.
Navigators “will leverage AIR’s catastrophe models to assess risk from wind, flood, and earthquake for their exposures in North America, Latin America, Europe, and Japan,” said the bulletin.
“Navigators writes a specialized book of business, and we felt that AIR’s framework for modeling our insurance and reinsurance business was a strong fit,” noted Ron Nash, group aggregation manager at Navigators. “We appreciate AIR’s experience and reputation in catastrophe modeling and feel that they are well positioned to meet our catastrophe modeling needs around the world.”
AIR explained that its “CLASIC/2 and CATRADER catastrophe risk management solutions are designed to meet the complex needs of the insurance industry, enabling companies to assess catastrophe loss potential from the portfolio level down to the individual location level. AIR’s innovative catastrophe models are state-of-the-art and incorporate advances in science and engineering to provide a comprehensive and realistic view of risk.”
Bill Churney, senior vice president at AIR Worldwide described the models as “reliable and market-leading,” indicating that they are designed for the “geographic and peril coverage that The Navigators Group requires for their specialty lines of insurance and reinsurance. We’re pleased that The Navigators Group has selected AIR as a trusted modeling solution, which is further proof that our models are best-in-class for commercial exposures,” he added.
Source: AIR Worldwide