Insurance Journal » AIR http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 24 May 2013 12:29:50 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 AIR Analyzes Heavy Impact of UK Floods; 2012 Losses ‘Above Average’ http://www.insurancejournal.com/news/international/2012/11/28/271909.htm Wed, 28 Nov 2012 11:29:42 +0000 http://www.insurancejournal.com/?p=271909 Catastrophe modeling firm AIR Worldwide has issued a preliminary report on the floods caused by the heavy rainfall that began lashing the British Isles on Thursday, November 22, prompting hundreds of flood warnings and alerts. “As of Tuesday, November 27 …

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]]> AIR Announces Deal with Navigators for Cat Models http://www.insurancejournal.com/news/international/2012/11/15/270604.htm Thu, 15 Nov 2012 11:06:31 +0000 http://www.insurancejournal.com/?p=270604 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 …

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]]> 7.4 Magnitude Quake Shakes Active Guatemala Region: AIR Analysis http://www.insurancejournal.com/news/international/2012/11/08/269892.htm Thu, 08 Nov 2012 11:09:35 +0000 http://www.insurancejournal.com/?p=269892 According to catastrophe modeling firm AIR Worldwide, at 10:35:50 UTC on Nov 7, 2012 an earthquake estimated at a magnitude of 7.4 occurred at a depth of 41.6 km (25.9 miles) about 15 miles off the coastal town of Champerico …

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]]> AIR Worldwide Opens Singapore Office to Expand in Asia-Pacific http://www.insurancejournal.com/news/international/2012/10/01/264934.htm Mon, 01 Oct 2012 16:05:52 +0000 http://www.insurancejournal.com/?p=264934 AIR Worldwide announced the opening of an office in Singapore to meet the expanding needs of clients in the Asian insurance market. “AIR has kept pace with the fast-growing markets and our equally fast-growing client base in Asia by opening …

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]]> Typhoon Jelawat Hits Okinawa; Moves on Tokyo: AIR Analysis http://www.insurancejournal.com/news/international/2012/10/01/264882.htm Mon, 01 Oct 2012 12:07:28 +0000 Charles E. Boyle http://www.insurancejournal.com/?p=264882 Typhoon Jelawat remains a powerful storm, even if its wind speed has decreased from around from 155 mph, 250km/h, it passed over Okinawa on Saturday with wind speeds over 90 mph, 144 km/h, causing extensive damage, and injuring more than …

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]]> Typhoon Sanba Makes Landfall in South Korea: AIR Analysis http://www.insurancejournal.com/news/international/2012/09/18/263342.htm Tue, 18 Sep 2012 10:48:08 +0000 http://www.insurancejournal.com/?p=263342 According to catastrophe modeling firm AIR Worldwide, Typhoon Sanba made landfall on September 17 just before noon local time (3:00 UTC) in South Gyeongsang Province on the southern coast of South Korea. Maximum sustained winds at landfall were around 150 …

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]]> Cat Models – More Accurate, More Sophisticated and More Useful http://www.insurancejournal.com/news/international/2012/09/17/263188.htm Mon, 17 Sep 2012 10:35:52 +0000 Charles E. Boyle http://www.insurancejournal.com/?p=263188 Catastrophe models have become such an indispensable tool for re/insurers, particularly those who write P&C catastrophe coverage, that it’s hard to believe the service is only 25 years old. It was launched in 1987 under the direction of Karen Clark, who …

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]]> Strong Earthquake Strikes Western Costa Rica: AIR Analysis http://www.insurancejournal.com/news/international/2012/09/06/262030.htm Thu, 06 Sep 2012 10:39:17 +0000 http://www.insurancejournal.com/?p=262030 According to catastrophe modeling firm AIR Worldwide, on September 5 at 8:42 AM local time, a magnitude 7.6 earthquake struck a sparsely populated region of western Costa Rica approximately 150 km [94 miles] west of San José , the nation’s …

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]]> Tropical Storm Bolaven Makes Landfall in North Korea: AIR Analysis http://www.insurancejournal.com/news/international/2012/08/29/261055.htm Wed, 29 Aug 2012 10:25:29 +0000 Charles E. Boyle http://www.insurancejournal.com/?p=261055 According to catastrophe modeling firm AIR Worldwide, after weakening to borderline tropical storm/typhoon strength (120 km/h [75 mph] 10-minute sustained winds), Typhoon Bolaven made landfall in North Korea north of Pyongyang, the country’s capital, at about 11:00 a.m. EDT on …

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]]> Typhoon Bolaven Strikes Okinawa; Heads for South Korea: AIR Analysis http://www.insurancejournal.com/news/international/2012/08/28/260877.htm Tue, 28 Aug 2012 10:14:18 +0000 http://www.insurancejournal.com/?p=260877 According to catastrophe modeling firm AIR Worldwide, Typhoon Bolaven made landfall on northern Okinawa around 12:00 UTC on August 26, as a strong category 3 typhoon, as calculated by the Japan Meteorological Agency (JMA).  It also reported minimum central pressure …

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]]> TS Isaac Drenches Haiti, Cuba; Turns West in Gulf of Mexico: AIR Analysis http://www.insurancejournal.com/news/international/2012/08/27/260734.htm Mon, 27 Aug 2012 10:16:21 +0000 http://www.insurancejournal.com/?p=260734 According to catastrophe modeling firm AIR Worldwide, Tropical Storm Isaac made landfall about 40 miles [64 kms] east of Guantanamo, Cuba, on Sunday with sustained winds of 60 mph [96 km/h]. AIR said Isaac’s “passage over the mountainous tip of …

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]]> Typhoon Tembin Approaching Taiwan: AIR Analysis http://www.insurancejournal.com/news/international/2012/08/24/260595.htm Fri, 24 Aug 2012 10:31:55 +0000 http://www.insurancejournal.com/?p=260595 According to catastrophe modeling firm AIR Worldwide, Typhoon Tembin, the 14th of the 2012 Pacific season, is “heading slowly for southern Taiwan, and is expected to make landfall in the early morning of Friday, August 24. Its path could, however, …

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]]> AIR Update on Typhoon Haikui, as Storm Hits China http://www.insurancejournal.com/news/international/2012/08/09/258808.htm Thu, 09 Aug 2012 09:49:27 +0000 http://www.insurancejournal.com/?p=258808 According to catastrophe modeling firm AIR Worldwide Typhoon Haikui, the 11th typhoon of 2012 Pacific season, made landfall in Hepu Township in Xiangshan County of China’s Zhejiang Province at 3:20 am local time Wednesday, August 8. Maximum sustained winds at …

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]]> China Braces for Another Typhoon; Japan on Alert: AIR Analysis http://www.insurancejournal.com/news/international/2012/08/08/258630.htm Wed, 08 Aug 2012 10:47:45 +0000 http://www.insurancejournal.com/?p=258630 According to catastrophe modeling firm AIR Worldwide, residents along coastal cities in eastern China are preparing for their third typhoon in less than a week. Just last weekend, two powerful typhoons—Damrey and Saola—came ashore less than 10 hours apart, causing …

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]]> TS Ernesto Strengthens; Expected to Impact Belize, Mexico; AIR Analysis http://www.insurancejournal.com/news/international/2012/08/07/258439.htm Tue, 07 Aug 2012 10:21:46 +0000 http://www.insurancejournal.com/?p=258439 Tropical Storm Ernesto is gaining strength as it moves west-northwest at around 13 mph, 20 km/h, according to the latest bulletin – 5:00 a.m. EDT – from the National Hurricane Center in Miami. As it moves along the forecast track …

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]]> UPDATE: TS Ernesto Crossing Caribbean; AIR Analysis http://www.insurancejournal.com/news/international/2012/08/06/258307.htm Mon, 06 Aug 2012 10:10:08 +0000 http://www.insurancejournal.com/?p=258307 Tropical Storm Ernesto is continuing along the track forecast by the National Hurricane Center in Miami, as it crosses the southern Caribbean, heading towards Mexico’s Yucatan Peninsula. The most recent NHC bulletin said maximum sustained winds were 50 mph, 85 …

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]]> Typhoons Saola, Damrey Strike, Philippines, Taiwan, China: AIR Analysis http://www.insurancejournal.com/news/international/2012/08/03/258140.htm Fri, 03 Aug 2012 10:05:38 +0000 http://www.insurancejournal.com/?p=258140 According to catastrophe modeling firm AIR Worldwide, Typhoon Saola, the ninth typhoon of the Northwest Pacific storm season, made its first landfall early Thursday morning local time in Hualien, Taiwan. AIR noted that the storm has since “been downgraded to …

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]]> AIR Analyzes Fallout from Heaviest Rainfall to Hit Beijing since 1951 http://www.insurancejournal.com/news/international/2012/07/24/256884.htm Tue, 24 Jul 2012 10:36:44 +0000 http://www.insurancejournal.com/?p=256884 According to catastrophe modeling firm AIR Worldwide, on Saturday, July 21, a heavy storm in China delivered as much as 18 inches [45.72 cms] of precipitation to parts of the country in and near the capital of Beijing (population 20 million). …

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]]> AIR Expands Suite of Catastrophe Models for Australia http://www.insurancejournal.com/news/international/2012/07/24/256880.htm Tue, 24 Jul 2012 10:27:47 +0000 http://www.insurancejournal.com/?p=256880 Catastrophe risk modeling firm AIR Worldwide announced the expansion of its suite of catastrophe models for Australia “with the release of the industry’s first probabilistic bushfire model and updated tropical cyclone and earthquake models.”   Dr. Jayanta Guin, senior vice …

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]]> China Reinsurance Company Licenses AIR’s Suite of Cat Models http://www.insurancejournal.com/news/international/2012/07/18/256008.htm Wed, 18 Jul 2012 10:23:16 +0000 http://www.insurancejournal.com/?p=256008 Catastrophe risk modeling firm AIR Worldwide announced that China Property & Casualty Reinsurance Company Ltd. (CPCR) has licensed its typhoon, earthquake, and multiple-peril crop insurance models for China to better manage its catastrophe risk.   “Because of the rapid urbanization …

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]]> Rain, Floods Cause Heavy Damage in Southwest Japan: AIR Analysis http://www.insurancejournal.com/news/international/2012/07/17/255910.htm Tue, 17 Jul 2012 11:05:06 +0000 http://www.insurancejournal.com/?p=255910 A report from catastrophe modeling firm AIR Worldwide, analyzes the damages resulting from the heavy rains that have caused widespread flooding and mudslides from July 11 to July 16 on the Southern Japanese Island of Kyushu. AIR explained that a “very …

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]]> AIR Unveils Cyclone Model for India http://www.insurancejournal.com/news/international/2012/07/17/255907.htm Tue, 17 Jul 2012 10:57:15 +0000 http://www.insurancejournal.com/?p=255907 Boston-based catastrophe risk modeling firm AIR Worldwide announced that it has released a cyclone model for India. “The new peer-reviewed model, which was developed out of AIR’s Hyderabad office, captures the effects of wind and precipitation-induced flooding on insured properties …

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]]> Magnitude 6.0 Earthquake Strikes Italy’s Emilia Romagna Region: AIR Analysis http://www.insurancejournal.com/news/international/2012/05/21/248275.htm Mon, 21 May 2012 10:26:04 +0000 http://www.insurancejournal.com/?p=248275 AIR Worldwide has released its preliminary analysis of the earthquake which struck the Emilia-Romagna region of northern Italy in the early hours on Sunday, May 20. The US Geological Survey issued a “moment magnitude estimate of 6.0 for the event. …

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]]> AIR Expands Cat Risk Engineering Program for Supply Chain Risk Quantification http://www.insurancejournal.com/news/international/2012/04/18/243913.htm Wed, 18 Apr 2012 09:27:39 +0000 http://www.insurancejournal.com/?p=243913 AIR Worldwide announced that it has “expanded its suite of Catastrophe Risk Engineering (CRE) solutions to help quantify, mitigate, and manage the risk associated with the impact of catastrophes on supply chain networks.” AIR said its new offering would “help …

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]]> Tsunami Watch Cancelled; AIR Worldwide Analyzes Quake Risk http://www.insurancejournal.com/news/international/2012/04/12/243050.htm Thu, 12 Apr 2012 10:17:03 +0000 http://www.insurancejournal.com/?p=243050 Yesterday the world held its breath, as two strong earthquakes within hours of each other shook the Indian Ocean sea bed, not far from the epicenter of the quake in 2004, which generated a tsunami that took over a quarter …

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]]> AIR Analyzes Chile Quake: No Tsunami; Minimal Damages Reported http://www.insurancejournal.com/news/international/2012/03/27/240838.htm Tue, 27 Mar 2012 10:38:31 +0000 http://www.insurancejournal.com/?p=240838 Catastrophe modeling firm AIR Worldwide’s report on the earthquake that struck central Chile on Sunday night concludes that, although the quake was a strong tremor – magnitude 7.1 – minimal damages are expected, and no significant loss of life has …

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]]> AIR Assessing Damage Picture from Mexico’s Earthquake http://www.insurancejournal.com/news/international/2012/03/21/240187.htm Wed, 21 Mar 2012 10:48:52 +0000 http://www.insurancejournal.com/?p=240187 Catastrophe modeling firm AIR Worldwide has issued a bulletin analyzing the magnitude 7.4 earthquake that struck southwestern Mexico yesterday. Dr. Tao Lai, Principal Engineer at AIR Worldwide, explained that the “tectonic setting of western Oaxaca is shaped by the subduction …

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]]> Tropical Cyclone Lua Hits Northwest Coast of Australia as Cat 4 Storm http://www.insurancejournal.com/news/international/2012/03/19/239943.htm Mon, 19 Mar 2012 12:23:16 +0000 Charles E. Boyle http://www.insurancejournal.com/?p=239943 Following earlier predictions, tropical cyclone Lua came ashore on Australia’s northwest coast, the “Pilbara” coast, as a strong category 4 storm; i.e. wind speeds from 130 to 156 mph – 209 to 251 km/h. It subsequently weakened as it moved …

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]]> AIR Analyzes Increased Japan Risk after Tohoku-Oki Earthquake http://www.insurancejournal.com/news/international/2012/02/17/236164.htm Fri, 17 Feb 2012 19:31:52 +0000 Charles E. Boyle http://www.insurancejournal.com/?p=236164 Catastrophe modeling firm AIR Worldwide has released a new report - “Understanding Earthquake Risk in Japan Following the Tohoku-Oki Earthquake of March 11, 2011.” The report stresses that the “M9.0 Tohoku earthquake changed the seismic risk landscape of Japan. In …

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]]> Windstorm Andrea, First of 2012, Causes Damage in Europe: AIR Report http://www.insurancejournal.com/news/international/2012/01/09/230352.htm Mon, 09 Jan 2012 11:24:53 +0000 http://www.insurancejournal.com/?p=230352 According to catastrophe modeling firm AIR Worldwide, Windstorm Andrea passed through the U.K. earlier this week, fast on the heels of Windstorm Ulli, which brought widespread travel and power disruptions to Scotland. The storm is the first in 2012. It …

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