AIR Worldwide Corporation and Insurance Services Office Limited, the U.K.-based provider of personal injury claims and anti-fraud insurance services and solutions, announced the opening of the AIR Worldwide Corporation Beijing Representative Office in China.
“The opening of our office is an important step as we begin to service the Chinese insurance market,” stated Kenneth Zou, AIR’s chief China representative. “AIR’s catastrophe risk modeling capabilities and ISO’s expertise in data management and rating, underwriting and claims adjudication will help China’s insurers, reinsurers and risk managers manage their risk effectively and efficiently.”
AIR said its “commitment to the China insurance market has continued to grow over the past two years.” It released its detailed China earthquake model earlier this year. “The model enables insurers and reinsurers to estimate potential property losses caused by earthquakes for multiple lines of business,” said the bulletin. “To accommodate insurance coverage needs in the rapidly developing country, AIR’s China earthquake model incorporates special damage functions for structures under construction that are typically covered by construction all risks/erection all risks (CAR/EAR) policies. The model was recently used to complete an earthquake risk analysis for PICC Property and Casualty Company Limited, the largest insurer in China.”
The AIR Worldwide Corporation Beijing Representative Office is located at One East Chang An Avenue, Dong Cheng District, Beijing 100738, China. The telephone number is +86 10 8520 0042.
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