AIR Worldwide News

Modeler: Insured Losses from Camp Wildfire in California at $6B to $9B

Catastrophe modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between $6 billion and $9 billion, and taken together with the Woolsey fire in Southern California AIR estimates industry insured losses …

Modeler: Insured Losses from Woolsey Fire in Southern California at Least $2.5B

Catastrophe risk modeling firm AIR Worldwide on Friday said it estimates that insured losses from the Woolsey Fire in Southern California will be at least $2.5 billion. Moody’s on Thursday released estimates showing property/casualty insurers and reinsurers total insured losses …

Florida Picks Up the Pieces from Powerful Hurricane Michael

It has been just over a month since Hurricane Michael slammed the Florida Panhandle as a Category 4 hurricane with wind speeds reaching just shy of Category 5 status. The devastation from the storm that killed at least 35 people …

AIR Worldwide Develops Probabilistic Model for Global Cyber Risks

Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime incidents for insurance portfolios worldwide. AIR’s probabilistic cyber model estimates the …

AIR: Hurricane Michael Strongest Storm to Hit Florida Panhandle on Record

Hurricane Michael, a Category 4 storm hitting Florida Wednesday with wind speeds of more than 150 miles per hour, is not just a major storm for the State of Florida, it is the strongest storm to hit the Florida Panhandle …

Insured Losses from China’s Typhoon Mangkhut Estimated at US$1B-US$2B: AIR

Industry insured losses from Typhoon Mangkhut in mainland China, Hong Kong, and Macau will be between US$1 billion and US$2 billion, according to catastrophe risk modeling firm AIR Worldwide. After making landfall in the Philippines, Typhoon Mangkhut doused a less …

Insured Losses from Typhoon Jebi Estimated at $2.3-$4.5 Billion: AIR

Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoo Jebi, which made landfall in Japan on Tuesday, Sept. 4, will be between $2.3 billion (JPY 257 billion) and $4.5 billion (JPY 502 billion). Typhoon Jebi, which …

AIR Worldwide and Capsicum Re Collaborate to Enhance Silent Cyber Models

Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber incidents. As part of the collaboration, the two firms will identify …

South Korea Braces for Typhoon Soulik, While Typhoon Cimarron Aims at Japan

An approaching typhoon has whipped up strong winds, waves and heavy rain in southern South Korea, leaving one person missing and one injured, while another typhoon headed for western Japan on Thursday. Typhoon Soulik is forecast to make landfall at …

AIR Worldwide Estimates Insured Losses from Japan Floods Could Reach US$4B

Industry insured losses from the flooding in western Japan caused by excessive rainfall from June 28 to July 8, 2018, will be between JPY284 billion (US$2.6 billion) and JPY423 billion (US$4.0 billion), according to Boston-based catastrophe modeling firm AIR Worldwide. …