AIR Worldwide News

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 …

AIR Worldwide Expands Global Pandemic Model to Include 6 Additional Diseases

Boston-based catastrophe risk modeling firm AIR Worldwide (AIR) announced it has expanded its Global Pandemic Model to include outbreaks of six additional diseases. The model now explicitly accounts for nine pathogens, including bacterial and viral diseases, in addition to previously …

AIR Worldwide Launches Global Resilience Practice with Kaniewski as Leader

Catastrophe modeling firm AIR Worldwide (AIR) has formed a global resilience practice, which aims to support risk reduction and resilience initiatives across the globe. These initiatives are aimed at developing solutions to aid society’s efforts to better prepare for and …

Taiwan Readies for Typhoon Nepartak; AIR Worldwide Comments

Taiwan told schools and offices along its eastern coast to close early Thursday as Typhoon Nepartak threatens to unleash strong winds and heavy rain across the island through Friday. Airlines canceled or rerouted flights in and out of Taiwan. The …

AIR Worldwide Introduces Earthquake Model for India

Catastrophe risk modeler AIR Worldwide, a Verisk Analytics business, has released a new earthquake model for India that estimates losses to residential, commercial and small industrial buildings as well as automobiles. The model’s seismicity analysis covers areas with seismic activity …

Pandemics and Climate Change Present Opportunity for Insurers

The shoe may eventually be placed on the other foot for the U.S. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other countries. Now the U.S. may …