catastrophe modeling News

Characteristics of ‘Charlie Hebdo’ Attack Thwarted Counter-Terrorism Efforts: RMS

A number of unique characteristics of the January 7 terrorist attack against satirical French magazine “Charlie Hebdo” allowed terrorists to succeed despite counter-terrorism efforts, according to a new report by Dr. Gordon Woo, catastrophist and terrorism risk expert at RMS, the …

AIR’s ‘Global Exceedance Probability Curve’ Report Shows Industry Loss Metrics

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 …

Aon Benfield Launches Arabian Earthquake Model

Impact Forecasting, Aon Benfield’s catastrophe model development unit, launched a catastrophe model to estimate the financial impact of earthquakes in the Arabian Peninsula. The demand for catastrophe modeling in the countries of Gulf Cooperation Council (GCC) is increasing as a …

Typhoon Neoguri to Skirt Okinawa; Nears Kyushu Landfall: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, at about 6:30 am local time today, Typhoon Neoguri—the strongest typhoon to date in 2014—is “roaring toward Japan with sustained winds of 180 km/hr [112 mph] and gusts above 250 km/h [155 mph].” …

Powerful M6.9 Quake Strikes near Mexico-Guatemala Border: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, at about 6:30 am local time yesterday, July 7, a powerful M6.9 earthquake struck near the border of Mexico and Guatemala near the town of Puerto Madero, Mexico, at a depth of 37.3 …

Lloyd’s U.S. Chief on Board with Climate Change

Despite risking offense to non-believers, Hank Watkins didn’t hesitate when he was asked if climate change was upon us. Watkins, president of Lloyd’s America, talked about an extensive report Lloyd’s of London just released, “Catastrophe Modeling and Climate Change.” “Everybody …

AIR Worldwide Appoints Guin Executive VP to Direct Research Program

Catastrophe modeling firm AIR Worldwide announced that Dr. Jayanta Guin has been appointed executive vice president. He “will continue to direct AIR’s innovative research program as well as assist with strategic management of AIR’s overall business strategy and new initiatives,” …

CoreLogic Acquires Catastrophe Modeling Firm Eqecat

CoreLogic, an Irivine, Calif. company that provides the insurance, financial services and real estate industries with data and analytics, has acquired catastrophe modeling firm Eqecat from ABS Group. Alyson Austin, CoreLogic spokesperson, said the transaction closed on Dec. 20. The …

Commentary: Have We Learned the Right Lessons From Sandy?

One year ago, Hurricane Sandy slammed into the New York and New Jersey coasts. As a result, 43 people died, lower Manhattan was dark for days, and seven hospitals had to be evacuated.In New York and New Jersey, 650,000 houses …

University of Maryland Project Aims to Improve Storm Predictions

Scientists at the University of Maryland Center for Environmental Science Horn Point Laboratory have a new project in the works that aims to better predict the intensity of storm surges on the Chesapeake Bay, Delaware Bay and the Atlantic Coast. …