AIR Worldwide News

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. …

AIR Worldwide Updates Wildfire Model with Event-Based Risk Management Approach

Catastrophe risk modeling firm AIR Worldwide (AIR) has released an updated Wildfire Model for the United States designed to provide a comprehensive view of the risk of wildfire to property within the 13 westernmost conterminous states. The event-based modeling approach …

New AIR Reinsurance Cat Modeling Software Estimates Insurer Loss Potential

Catastrophe risk modeling firm AIR Worldwide announced that it has released Touchstone Re, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties, and insurance-linked securities. AIR Worldwide said Touchstone …

AIR Releases New Reinsurance Catastrophe Modeling Software, Touchstone Re

Catastrophe risk modeling firm AIR Worldwide announced that it has released Touchstone Re™, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties, and insurance-linked securities. AIR Worldwide said Touchstone …