AIR Worldwide News

Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies

The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe modeling firm AIR Worldwide, rating company DBRS …

Ecuador Earthquake’s Death Toll Rises; AIR Worldwide Comments

World leaders from the Vatican to Washington offered support to Ecuador as casualties mounted following one of the strongest earthquakes to strike the South American country in decades. The number of dead has climbed to at least 350 from 272 …

Sony’s Camera Chip Factory Halts Production After Japan Temblor; AIR Comments

The earthquake in southern Japan that killed nine people, damaged buildings and derailed a bullet train also halted production at a Sony Corp. camera-chip factory, a key part of the global smartphone supply chain. The plant in Kumamoto on the …

RIMS 2016: What’s the Biggest Risk for Cyber Insurers?

Nobody really knows what the biggest cyber risk is. But Scott Stransky, senior scientist at risk modeling firm AIR Worldwide, has thought a lot about a cloud breach and the business interruption ramifications. Listen as he describes the “Hurricane Andrew” …

AIR Says Brussels Attacks Have Limited Insurer Impact; FERMA Issues Comment

The deadly coordinated attacks in Brussels on March 22, which killed 33 people and wounded 260. are expected to have limited impact on the insurance industry, according to catastrophe modeling firm AIR Worldwide. Loss of life and injuries to individuals …

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 …