When it comes to revised hurricane models, AIR Worldwide CEO Ming Lee has one basic question, “What really is all this big fuss about?” Lee, whose Boston company launched the catastrophe modeling industry in 1987, is referring to the fuss …
Catastrophe modeling firm AIR Worldwide is currently tracking Typhoon Muifa as it moves across the Pacific Ocean towards mainland China, after delivering heavy rain to the Philippines Tuesday and Wednesday. Muifa is forecast to make landfall south of Shanghai this …
Catastrophe risk modeling firm AIR Worldwide announced the release of its Central America tropical cyclone model. “The new model covers Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama,” AIR said. It also “captures the combined effects of wind …
According to catastrophe modeling firm AIR Worldwide, Tropical Storm Ma-On made landfall in southern Tokushima Prefecture on Shikoku Island late Tuesday night local time. Dr. Peter Sousounis, principal scientist at AIR Worldwide, explained that it was the “sixth named storm …
Christchurch, New Zealand, still recovering from two previous earthquakes that struck in September 2010 and February 2011, was shaken by a series of strong tremors on Monday afternoon that caused significant new damage to already weakened buildings. According to New …
The severe thunderstorms that struck the United States from May 20 to the 27 will result in insured losses to residential, commercial, and industrial properties and their contents, and to automobiles of between $4 billion and $7 billion, according to …
The flooding that has inundated low-lying communities and farmland for miles along the Upper and Lower Mississippi River is due to a large, slow-moving storm system that was spawned nearly a month ago. “The flooding began when a critical weather …
Catastrophe modeling firm AIR Worldwide (AIR) today announced that its Catastrophe Risk Engineering (CRE) models now cover industrial and renewable energy facilities worldwide. Their expansion is “aimed at helping insurers, facultative reinsurers, brokers, and risk managers better assess the natural …
Catastrophe modeling firm AIR Worldwide has released an enhanced typhoon model for the Northwest Pacific Basin. AIR said the “model, which was released in Version 12.5 of AIR’s CLASIC/2™ and CATRADER® software, features a comprehensive catalog of simulated storms to …
Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, forecasting the insurance industry will have to pay out $20 billion to $30 billion in claims. That estimate, issued late Thursday night, compares …
