AIR Worldwide News

Global Life Insurers Adapt Pandemic Risk Models After Unexpected Jump in Claims

A coronavirus pandemic which lasts five years, another pandemic in a decade, and ever more transmissible variants are among the scenarios life insurers are predicting after COVID-19 claims jumped more than expected in 2021. The global life insurance industry was …

Active 2021 Hurricane Season Revealed ‘Unsettling’ Trends: AIR Worldwide

The 2021 Atlantic hurricane season was the third most active on record and the sixth consecutive year of above-average hurricane activity. Still, the overall season was mostly in line with the updated 30-year average, according to experts from AIR Worldwide. …

Insurance Industry Told to Expect Global Average Annual Disaster Loss of $106B: AIR

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 …

AIR Says Hurricane Ida Insurance Losses Could Reach $30 Billion

Modeling firm AIR Worldwide has updated its insured loss estimates for Hurricane Ida and now projects that Ida’s insured industry losses will range from $20 billion to $30 billion. The estimate includes inland flood impacts across the entirety of Ida’s …

AIR Worldwide Estimates Insured Losses for Hurricane Ida Could Be Up to $25 Billion

Insurance industry insured losses to onshore property resulting from Hurricane Ida’s winds and storm surge will range from $17 billion to $25 billion. AIR’s modeled insured loss estimates include insured physical damage to property (residential, commercial, industrial, auto), both structures …

Insured Losses from European Floods Estimated at $6 Billion-$7.7 Billion: RMS

RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion and €6.5 billion (US$6 billion and US$7.7 billion). …

Insured Losses from July Floods in Germany Could Approach $6B: AIR Worldwide

AIR Worldwide, the Boston-based catastrophe modeling firm, estimates insured losses in Germany from July flooding could approach €5 billion ($6 billion). Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18, …

How Climate Change May Affect Hurricane Risk and Losses: AIR, Brookings, AXIS

By 2050, climate change-related weather events will have a meaningful impact on future hurricane losses, increasing them by 20% or more and in some cases doubling them, even without any increase in the concentration of property exposure along the coast, …

Why World Bank’s Controversial Pandemic Bonds Didn’t Function as Hoped

In late January 2015, just after the deadliest outbreak of Ebola in history, then-World Bank President Jim Yong Kim stood in front of a group of Georgetown University students and professors to introduce a new approach to fighting pandemics. Fresh …

Hurricane Zeta Insured Loss Estimates Range from $1.5B to More than $4B

Insured losses from Hurricane Zeta — the fifth named storm to make landfall in Louisiana and the third hurricane to hit the state in the span of two months — will likely come in somewhere between $1.5 billion and $4.4 …