AIR Worldwide News

Indonesia’s M6.5 Quake Kills Nearly 100 with Low Insurance Losses Expected: AIR

An M6.5 earthquake jolted the northernmost area of Sumatra, Indonesia, on Dec. 7 at 5:03 a.m. local time, with nearly 100 fatalities and more than 600 injuries reported. The epicenter was 19 kilometers (11.8 miles) southeast of Sigli and 92.3 …

New Zealand Avoids Widespread Damage from Earthquake; AIR Comments

New Zealand was rocked by a powerful earthquake early Monday that killed two people and caused extensive damage to roads and businesses, but avoided the widespread destruction caused by a 2011 quake that killed 185 people. The local dollar fell. …

AIR Worldwide Comments on Central Italy’s 2 Powerful Earthquakes

The two powerful earthquakes that hit central Italy on Oct. 26 are considered aftershocks of the deadly Aug. 24, M6.2 earthquake that occurred near Teramo, which about 50 miles south-southeast of the latest temblors, according to Boston-based catastrophe modeling firm …

Verisk Analytics Buys Canadian Real-Time Analytics Firm Analyze Re

Data firm Verisk Analytics Inc. said it has acquired Halifax, Novia Scotia-based Analyze Re, a software analytics provider for the reinsurance and insurance industries founded in 2013. Terms of the deal were not disclosed. Analyze Re will become part of …

Typhoon Haima Hits China as Weaker Storm; AIR Worldwide Comments

Typhoon Haima made landfall in China after it brushed past Hong Kong, forcing the city’s stock exchange to cancel trading for the day and airlines to suspend flights. The Hong Kong Observatory said it will consider lowering Storm Signal No. …

Louisiana’s Flooding Response Costs Could Reach $81M

Louisiana’s share of response costs to the August flooding could reach $81 million or more. That’s the estimate lawmakers received on Sept. 16, in a first accounting by Gov. John Bel Edwards’ administration about the possible exposure for a state …

AIR Worldwide Expands Global Terrorism Risk Model

Catastrophe risk modeler AIR Worldwide has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other countries to help companies assess the impact of different attack scenarios on their portfolios and …

Super Typhoon Meranti Batters Taiwan: Risk Modelers AIR, RMS Assess Impact

Super Typhoon Meranti delivered very strong wind, high storm surge, and flooding precipitation to southern Taiwan as it passed through Luzon Strait near noon local time Wednesday. According to catastrophe modeling firm AIR Worldwide, the strongest storm in the world …

Typhoon Lionrock Makes Landfall in Japan, Bringing Landslides, Floods & Deaths

With strong winds, drenching rain, high surf, and coastal flooding, Typhoon Lionrock made landfall in the Tohoku region of Japan Tuesday evening local time, near the city of Ofunato in Iwate Prefecture, according to an advisory from catastrophe modeling firm …

Italy Quakes Could Lead to Limited Insured Losses: RMS & AIR Worldwide

Damage from the earthquake that struck central Italy on Aug. 24 and the subsequent aftershocks that followed is still being assessed. But RMS asserts that insurance losses will be limited because of property values and the lack of coverage. “A …