AIR Worldwide News

Lloyd’s Develops Standardized Data Requirements for Cyber Risks

Lloyd’s of London announced that a set of common core data requirements for cyber risks has been agreed by collaborating with modeling firms AIR Worldwide and RMS, along with RMS’ partner, the Cambridge Centre for Risk Studies. Both AIR and …

Magnitude 6.7 Earthquake Jolts India, Bangladesh: AIR Worldwide

A magnitude 6.7 earthquake hit northeast India near its border with Myanmar and Bangladesh on Jan. 4 at 4:35 a.m. local time, about 29 kilometers (18 miles) northwest of Imphal, the capital of Manipur state, according to catastrophe modeling firm …

AIR Worldwide: At Least 9 Tornadoes in North Texas; Extent of Damage Not Yet Known

Catastrophe modeling firm AIR Worldwide reported that the huge storm system that impacted the United States from New Mexico to Michigan and Georgia over the Christmas holiday weekend delivered at least nine tornadoes in North Texas. In addition to tornadoes, …

Peru Insurance Regulator Approves AIR Worldwide’s Earthquake Model

Catastrophe modeling firm AIR Worldwide, a division of Verisk Analytics, announced that its earthquake model for Peru has been officially approved by Peruvian insurance regulator Superintendencia de Banca y Seguros (SBS) to offer catastrophe modeling services to local insurance companies …

Mexico Catastrophe Bond Likely to Pay on Hurricane Patricia’s Losses: S&P

Bonds sold by Mexico to shield it from the cost of repairing hurricane damage are closer to paying out after the biggest storm ever measured in the Americas struck the country last month, Standard & Poor’s said. S&P cut its …

No ‘Significant Losses’ Expected from M7.5 Hindu Kush Quake: AIR Analysis

According to catastrophe modeling firm AIR Worldwide the epicenter the magnitude 7.5 earthquake that struck northeastern Afghanistan yesterday was located in the Hindu Kush mountain range, 45 km (28 miles) north of `Alaqahdari-ye Kiran wa Munjan, Afghanistan, and 254 km …

Mexico’s Hurricane Patricia May Hit Catastrophe Bondholders

Mexico’s natural disaster fund may be $100 million better off at bondholders’ expense after Hurricane Patricia appeared to trigger a catastrophe bond the country sold in 2012. Investors in those notes maturing Dec. 4. are waiting for a verdict on whether …

Mexico Losses from Hurricane Patricia ‘Won’t Exceed $200 Million:’ AIR Analysis

Catastrophe modeling firm AIR Worldwide estimates that insured losses to onshore properties in Mexico from Hurricane Patricia won’t exceed $200 million. This is a surprisingly low estimate, as AIR said: “Six hours before Hurricane Patricia made landfall in the Mexican …

AIR Analyzes Typhoon Koppu’s Heavy Flooding Impact on the Philippines

A report from catastrophe modeling firm AIR Worldwide highlights “widespread flooding, landslides, wrecked roads and bridges, downed trees, and power outages” in the Philippines in the wake of Typhoon Koppu’s passage. The storm has finally moved over the Island of …

Typhoon Mujigae Hits So. China; Strongest Cyclone to Hit Region: AIR Worldwide

Typhoon Mujigae – also called Kabayan – made landfall in China’s Guangdong Province on October 4 with reported wind speeds up to 135 miles per hour (217 kilometers per hour) in some locations. Mujigae quickly moved from a Category 3 …