Reinsurance News
AIR Worldwide
Hurricane Delta insured losses seen at up to $3bn by AIR
14th October 2020
Catastrophe risk modeller, AIR Worldwide, has estimated that insurance and reinsurance industry losses to onshore properties as a result of Hurricane Delta's winds and storm surge will range from $1 billion to $3 billion. AIR's estimates include losses to onshore residential, commercial, and industrial properties and automobiles, for their building, contents, ... Read the full article
AIR updates Multiple Peril Crop Insurance Model for China
23rd September 2020
Catastrophe risk modelling firm AIR Worldwide (AIR) has announced that it released an updated Multiple Peril Crop Insurance (MPCI) Model for China. The product has been updated in order to support probabilistic assessments for five newly modelled crop lines of business and a newly modelled sub-peril. This update also includes a ... Read the full article
Hurricane Sally’s onshore industry loss could reach $3bn: AIR Worldwide
21st September 2020
Catastrophe risk modelling firm AIR Worldwide (AIR) has estimated that the insured cost of onshore property damages resulting from Hurricane Sally will be between $1 billion and $3 billion. Losses were caused by wind, storm and inland flood, with wind representing the majority of the onshore loss. Although Sally included a major ... Read the full article
Hurricane Laura onshore insured losses estimated up to $8bn by AIR
31st August 2020
Catastrophe risk modelling specialist AIR Worldwide has estimated that onshore insured property losses from recent hurricane Laura will fall between $4 billion and $8 billion. The estimate, which is the first of the official post-landfall figures from a catastrophe risk modeller, is based only on industry insured losses to onshore property ... Read the full article
AIR updates Tropical Cyclone and Earthquake Models for the Caribbean
31st July 2020
AIR Worldwide has announced the release of two updated catastrophe risk models for the Caribbean region, covering tropical cyclone and earthquake risks. The company said this will provide re/insurers with models which show a comprehensive view of risk across 29 countries and territories in the region. The AIR Tropical Cyclone Model for ... Read the full article
AIR Worldwide updates earthquake model for Australia
30th July 2020
Catastrophe risk modelling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. The updates were prompted by findings in the National Seismic Hazard Model from Geoscience Australia (GA), which challenged established ideas about seismic activity in the country and significantly decreased the view of seismic hazard. The ... Read the full article
Larger firms more exposed to machine identity related cyber losses: Report
6th March 2020
As much as 25% of cyber losses for the largest companies are machine identity related and, in the U.S., as much as 13% of total economic losses due to cyber events are related to unprotected machine identities, according to a new report by AIR Worldwide, sponsored by Venafi. The new report ... Read the full article
AIR puts storm Ciara insured losses at up to €1.9bn
14th February 2020
The insurance industry loss from last weekend's European windstorm Ciara (also known as Sabine) is expected to be between €1.1 billion (USD 1.2 billion) and €1.9 billion (USD 2.1 billion), according to catastrophe risk modeller AIR Worldwide, a Verisk business. Known as windstorm Ciara in the UK, or windstorm Sabine in ... Read the full article
AIR Worldwide launches multi-peril crop insurance model for India
4th November 2019
Catastrophe modelling firm AIR Worldwide has released a Multiple Peril Crop Insurance Model for India designed to aid probabilistic assessments of potential losses caused by yield shortfalls. The event-based model covers 11 major crops across the two main growing seasons in India: Kharif - the summer period from late spring into ... Read the full article
AIR puts Typhoon Hagibis insured loss at up to USD 16 billion
22nd October 2019
Global catastrophe risk modeller AIR Worldwide has provided an industry insured loss estimate of between USD 8 billion (JPY 865bn) and USD 16 billion (JPY 1,730bn) from Typhoon Hagibis, which made landfall in Japan on October 12th, 2019. According to AIR, typhoon Hagibis made landfall along Japan’s east coast as an ... Read the full article
Lloyd’s, AIR target greater supply chain resilience
10th October 2019
A new framework designed to help both risk managers and insurers close the supply chain risk protection gap has been co-produced by the specialist Lloyd's of London re/insurance marketplace and catastrophe risk modeller, AIR Worldwide. A new report from Lloyd's and AIR Worldwide, Hidden Vulnerabilities in Supply Chain Risk: A quantitative ... Read the full article
Push for low cost networks could result in catastrophic supply chain risk: Report
9th October 2019
Some businesses might well be ignoring or failing to see concentrations of risk in their supply chain amid a desire for low cost networks, according to a new report from Airmic, in collaboration with AIR Worldwide, Gallagher, HDI, Lloyd's of London, and Sedgwick. The report, Complex Supply Chains in a Complex ... Read the full article
AIR puts Typhoon Faxai insured industry loss at up to $7 billion
16th September 2019
Catastrophe risk modeller AIR Worldwide has estimated that insurance and reinsurance industry losses from Typhoon Faxai will be between $3 billion (JPY 340 billion) and $7 billion (JPY 740 million). Typhoon Faxai hit Japan on September 9th, impacting the Tokyo area with some of the most severe damage seen in the ... Read the full article
AIR Worldwide estimates insured average annual cat losses at $92bn
12th September 2019
Catastrophe modelling firm AIR Worldwide has estimated that the global modelled insured average annual loss (AAL) from catastrophes worldwide is about US $92 billion. The firm released the figure as part of its 2019 Global Modeled Catastrophe Report, which detailed key loss metrics from AIR’s global industry exceedance probability curve (EP) ... Read the full article
AIR expecting $854m insured losses from Typhoon Lekima
15th August 2019
AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics, expects insured losses from Typhoon Lekima, which made landfall in Taizhou, Zhejiang, China, early on August 10, to exceed CNY 6 billion (USD 854 million). AIR’s modelled loss estimate only includes insured physical damage to onshore property (residential, industrial, commercial, and ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
