catastrophe models News

AIR Worldwide Releases Updated Caribbean Cyclone and Earthquake Models

Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Tropical Cyclone and Earthquake Models for the Caribbean. These models will provide insurers and reinsurers with a comprehensive view of risk across 29 countries and territories in …

RMS Releases High Definition Models for European Severe Convective Storm

RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the release of new European Severe Convective Storm (EU SCS) High Definition Models. The models represent 50,000 years of simulation of hail and straight-line wind and tornado risk and include …

Failure to Act on Climate Change Could Make Weather Risks Uninsurable: Swiss Re

Global warming will lead to growing intensity and frequency of severe weather events, rising losses, as well as greater uncertainty in the assessment of these events by the insurance industry, which could make some weather risks uninsurable, according to a …

Insured Losses from Japan’s Typhoon Hagibis Estimated at $8B-$16B: AIR

Insured losses from Typhoon Hagibis, which made landfall in Japan on Oct. 12, will be between 865 billion Japanese yen (US$8 billion) and JPY 1,730 billion (US$16 billion), with more than half of the losses due to inland flooding, according …

AIR Expands Europe Inland Flood Model, Updates UK Storm Surge Analysis

Catastrophe risk modeling firm AIR Worldwide announced it has released an expanded inland flood model for Central Europe to include the country of Poland in its model domain. AIR also announced that it has updated the storm surge component of …

AIR Worldwide Releases Update of New Zealand Earthquake Model

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 …

Aon, Insurtech Zesty.ai Partner to Enhance Property Underwriting with AI Data

Aon has formed a strategic alliance with Zesty.ai, a San Francisco-based insurtech startup, which uses artificial intelligence (AI) to enhance insurers’ property underwriting. Zesty.ai’s technology provides access to more than 130 billion data points on buildings and their surroundings which …

JBA Broadens Access to Sri Lanka Flood Model to Help Bridge Protection Gap

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 …

JBA Risk Management Launches India Crop Model for Re/Insurers as El Niño Looms

JBA Risk Management (JBA), the UK-based modeling firm, has launched an India crop catastrophe model for the re/insurance market. More commonly known for flood maps and models, JBA collaborated with Chaucer through its office in Singapore to develop this probabilistic …

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 …