The purpose of modeling is to anticipate the likelihood and severity of catastrophes so that companies can prepare for their financial impact — before they occur. The evidence suggests that, for the most part, modeling has achieved its mission. Eleven …
Catastrophe modeling firm AIR Worldwide has announced the availability of Public Risk Services, which it describes as a “new consulting service to support the needs of public sector institutions and stakeholders charged with managing catastrophe risk. John W. Rollins, FCAS, …
Although demand surge was an issue for the property/casualty industry following a trio of hurricanes in 2005, for Superstorm Sandy the demand-surge impact is minimal so far, an expert said recently. There has only been a price impact of 2 …
AIR Worldwide’s analysis of Typhoon Botha’s [also named ‘Pablo,’ locally] impact on the Philippines indicates that as “insurance penetration in this area is around 10 percent to 20 percent; insured losses are not expected to be high as a result …
Catastrophe modeling firm AIR Worldwide today revised up its industrywide Sandy insured loss estimates to the $16 billion-$22 billion range. AIR Worldwide had previously estimated on Oct. 30 — the day after Sandy made U.S. landfall — that insured losses …
In its ongoing damage survey of areas impacted by Superstorm Sandy, AIR Worldwide’s latest report describes the kinds of damage patterns caused by Sandy in coastal communities in Rhode Island, Connecticut and Long Island, N.Y. Surveys were conducted on Nov. …
Catastrophe modeling firm Risk Management Solutions’ insured loss estimate for Sandy would be in the range of $20 billion to $25 billion, according to a report from The Wall Street Journal.RMS has not yet published its estimate publicly as of …
Catastrophe modeling firm AIR Worldwide published a field survey report on Wednesday, Nov. 14, detailing damages their representatives saw in some of the hardest-hit areas post-Sandy. According to AIR Worldwide, Sandy’s diameter made it the largest Atlantic hurricane on record …
Catastrophe risk modeling firm Eqecat doubled its insured loss estimate range for Sandy, to $10 billion to $20 billion, with the total economic damage range now in $30 billion to $50 billion. Equcat’s previous estimate — published on Monday, Oct. …
Catastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the U.S. would be in the range of $7 billion to $15 billion. AIR’s insured loss estimate includes wind and storm surge …
