Insured losses stemming from Typhoon Hagibis in Japan are estimated to range between US$$7 billion and $11 billion, according to Newark, Calif.-based catastrophe modeling firm RMS. While last month’s Typhoon Faxai was a wind-driven event, RMS estimates typhoon flooding from …
RMS, the Newark, Calif.-based risk modeling and analytics firm, has estimated that the insured loss from Typhoon Faxai will be between $5.0 and $9.0 billion (¥ 500 to ¥950 billion). This estimate includes property damage and business interruption caused by …
For insurers and reinsurers, the 1995 Kobe earthquake produced $3 billion in insured property losses, but a repeat of a more devastating quake that happened 72 years earlier could bring $225 billion in industry losses. And a more typical level …
Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated earthquake model for New Zealand. This model incorporates the latest scientific research after the 2010–2011 Canterbury earthquake sequence, the 2016 Kaikoura earthquake, and earthquakes worldwide to provide …
When Norsk Hydro, one of the world’s largest aluminum producers, was hit by a major cyber attack in the early hours of March 19, it was already undergoing a major upheaval: just the day before the attack, the company’s long-standing …
JBA Risk Management has released its Sri Lanka Flood Model onto Simplitium’s ModEx platform. The initiative is specifically aimed at broadening accessibility to the Sri Lanka model for both the insurance and wider disaster risk reduction (DRR) community. The announcement …
CoreLogic, the Irvine, Calif.-based property data and analytics firm, announced it is expanding its Flood Risk Score and Weather Verification Services for hail into Canada. The availability of the CoreLogic Flood Risk Score and Weather Verification Service for hail in …
The Willis Research Network (WRN) announced it has renewed its partnership with the Global Earthquake Model (GEM) Foundation. The agreement represents a continued commitment to working collaboratively in order to develop and promote better understanding of earthquake risk. “The truly …
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 …
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 …
