Economic losses for the Feb. 6, 2023 earthquakes in Turkey will likely exceed US$20 billion, while insured losses will likely be more than US$1 billion, according to Extreme Event Solutions at Verisk (formerly AIR Worldwide). These estimates are based on …
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40% chance of experiencing an annual loss of more than $200 billion in the next decade, according to Boston-based modeling …
Verisk Analytics Inc., the Jersey City, N.J.-based data analytics provider, has acquired Arium, an independent company specializing in liability risk modeling and decision support. London-based Arium will become part of AIR Worldwide (AIR), a Verisk Analytics business, and will enable …
Data firm Verisk Analytics has appointed Bill Churney as president of its AIR Worldwide risk modeling business. Churney had been serving as AIR’s chief operating officer. Churney succeeds Ming Lee, who retired as AIR president Jan. 1, 2016, concluding a …
A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, AIR Worldwide determined in a new report. What the catastrophe modeling firm found: the global insured average annual loss comes in at $74 …
Catastrophe modeling firm AIR Worldwide estimated that the 1 percent exceedance probability loss (or the 100-year return period loss) is approximately $231.5 billion and the long-term average annual loss from natural catastrophes and terrorism is $72.6 billion. These statistics were …
Catastrophe modeling firm AIR Worldwide promoted Bill Churney to the newly-created position of chief operating officer. Based in AIR’s Boston headquarters office, Churney will have immediate responsibility for all product management, software product development, global business development, marketing, consulting, and …
