AIR Worldwide News

Mexico’s Hurricane Patricia May Hit Catastrophe Bondholders

Mexico’s natural disaster fund may be $100 million better off at bondholders’ expense after Hurricane Patricia appeared to trigger a catastrophe bond the country sold in 2012. Investors in those notes maturing Dec. 4. are waiting for a verdict on …

Mexico Losses from Hurricane Patricia ‘Won’t Exceed $200 Million:’ AIR Analysis

Catastrophe modeling firm AIR Worldwide estimates that insured losses to onshore properties in Mexico from Hurricane Patricia won’t exceed $200 million. This is a surprisingly low estimate, as AIR said: “Six hours before Hurricane Patricia made landfall in the Mexican …

AIR Analyzes Typhoon Koppu’s Heavy Flooding Impact on the Philippines

A report from catastrophe modeling firm AIR Worldwide highlights “widespread flooding, landslides, wrecked roads and bridges, downed trees, and power outages” in the Philippines in the wake of Typhoon Koppu’s passage. The storm has finally moved over the Island of …

Typhoon Mujigae Hits So. China; Strongest Cyclone to Hit Region: AIR Worldwide

Typhoon Mujigae – also called Kabayan – made landfall in China’s Guangdong Province on October 4 with reported wind speeds up to 135 miles per hour (217 kilometers per hour) in some locations. Mujigae quickly moved from a Category 3 …

AIR Analyzes Taiwan, China Damages, Losses from Typhoon Dujuan

Catastrophe modeling firm AIR Worldwide reports that Typhoon Dujuan made landfall on northeast coast of Taiwan with high winds and heavy rain near Nan’ao Township in Yilan County, late afternoon on Monday, September 28, at approximately 09:00 UTC. AIR described …

AIR Estimates Insured Losses from Chile Earthquake at $600M to $900M

Catastrophe modeling firm AIR Worldwide estimates that insured losses from the Magnitude 8.3 earthquake that struck Chile’s central coast near Illapel on Sept. 16 will be between CLP 400 billion ($600 million) and CLP 600 billion ($900 million). “The September …

Gap Between Insured & Economic Losses Offers Business Opportunities: AIR

A huge global gap between disaster-related insured and economic losses presents a growth opportunity for P/C carriers, AIR Worldwide determined in a new report. What the catastrophe modeling firm found: the global insured average annual loss comes in at $74 …

Massive California Blazes, And It’s Not Even Official Wildfire Season Yet

A pair of massive blazes in the Northern California are a bleak reminder of how bad things can get in a state with persistent drought and windy conditions. A more worrisome thought is California’s official wildfire season has yet to …

UPDATE: from AIR: Typhoon Soudelor Nears Taiwan as Season’s Strongest

According to catastrophe modeling firm AIR Worldwide, Typhoon Soudelor is “the strongest tropical cyclone anywhere on earth thus far in 2015 based upon estimated wind speed.” The storm is continuing on its path for a direct hit on Taiwan AIR …

Tropical Storm Nangka Batters Japan with Heavy Rain, High Winds: AIR Report

Catastrophe modeling firm AIR Worldwide’s report on Typhoon Nangka notes that it “made landfall July 16, 2015, at 23:07 Japan Standard Time (JST) (14:07 UTC) with a central pressure of 965 mb near Muroto City, on the eastern coast of …