AIR Worldwide News

AIR Worldwide Estimates Global COVID-19 Deaths Could Reach 644,000 During June

The number of COVID-19 cases globally over the next four weeks may reach 50 million total cases, with 644,000 estimated deaths, according to estimates provided by Verisk’s catastrophe modeling unit, AIR Worldwide, on May 20. As of May 19, 2020, …

AIR Worldwide Launches Free COVID-19 Catastrophe Modeling Tool

AIR Worldwide has launched a free COVID-19 catastrophe modeling tool, one that predicts cases and offers death projections for the weeks ahead. The company said its Verisk COVID-19 Projection Tool, designed with AIR’s pandemic modeling data, will provide COVID-19 case …

Pandemic Bonds Get Stay of Execution but Prospect of Wipeout Looms

A ruling last week not to wipe out holders of a World Bank financial instrument providing emergency funds to poor countries in a pandemic, was just a stay of execution if bond markets are to be believed. The riskier $95 …

AIR Worldwide Estimates COVID-19 Global Deaths Could Rise 10K-30K by End of March

AIR Worldwide, the Boston-based catastrophe risk modeling firm, projected the number of severe cases of COVID-19 could range between 200,000 and 900,000 globally, with deaths ranging from 10,000 to 30,500, from now until April 1. During the same time period …

Coronavirus Likely to Trigger Pandemic Bond Payouts to Poor Countries

The severity of the global coronavirus epidemic has reached levels almost certain to trigger a financial instrument sold by the World Bank to raise money for developing countries in a pandemic. The bonds, which were sold in 2017, are quoted …

Risk Modeling Firm Verisk Cancels Live Event Over Virus, Goes Virtual for Cyber Seminar

Insurance data analytics and risk modeling firm Verisk has converted its Cyber and Casualty Seminar scheduled for March 10 in New York City from an in-person to a free virtual event “out of an abundance of caution over the global …

AIR Worldwide Uses Pandemic Model to Determine Countries at Highest Risk

AIR Worldwide published an evaluation of potential coronavirus disease 2019 (COVID-19) cases in other countries, using its pandemic model to run hypothetical scenarios, which could reveal those countries at the highest risk for onward infections. In these scenarios, AIR simulated …

Insured Losses for Europe’s Storm Ciara-Sabine Could Hit $2 Billion: Modeling Firms

Catastrophe risk modeling firm AIR Worldwide estimates that insured losses due to wind from Europe’s winter storm Ciara (also known as Sabine) will range between €1.1 billion and €1.9 billion (US$1.2 billion and US$2.1 billion), with the majority of claims …

Insured Losses from Australia’s Hailstorms Hit US$352.5 Million

The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday (Jan. 19-Jan. 20). Insured losses from the …

Australia’s Bushfires Could Surpass 2009’s Costly Season; Analysts, Insurers Comment

Australia’s bushfire season has months to run and could easily surpass the most costly fire season, 2009’s Black Saturday fires in Victoria, which had a price tag of an estimated A$4.4 billion (US$3 billion), according to Moody’s Analytics, in a …