Reinsurance News

AIR Worldwide

AIR Worldwide releases new Canada crop hail risk model

26th June 2017

AIR Worldwide has released a new Crop Hail Model for Canada, the first probabilistic model for the industry, offering a complete overview of risk crop hail portfolios and the ability to assess different impact of hail on various crop types as well as larger losses than have previously hit the crop ... Read the full article

AIR Worldwide releases updated U.S. earthquake model

19th June 2017

Catastrophe risk modeling firm AIR Worldwide today announced the release of an updated U.S. earthquake model that includes additional subperils of tsunami and landslide and an enhanced seismicity module to capture impact of human activity on earthquake frequency. AIR said the new model has updated its existing sub-perils; fire following, liquefaction, ... Read the full article

AIR Worldwide launches new cyber risk application for re/insurance markets

24th April 2017

Catastrophe risk modeling firm AIR Worldwide today released ARC (Analytics of Risk from Cyber), a cyber risk modeling application that can evaluate any commercial policy, and measure aggregations of cyber risk within a company's portfolio, allowing for easy assessment of key firms' cyber risk from across the globe. The application uses ... Read the full article

Palomar gets first successful rate filing with AIR U.S. flood model

15th February 2017

Specialty insurer Palomar has used AIR Worldwide’s U.S. probabilistic flood model to obtain a first-ever successful rate filing for flood. Palomar has become the first admitted firm to successfully offer a stand-alone residential flood insurance product in California, after its first-time launch of AIR’s flood model, Flood Guard. The programme was first released by ... Read the full article

AIR gets approval for Colombia earthquake model

14th February 2017

Catastrophe modelling firm AIR Worldwide (AIR) has received approval from Colombia’s insurance regulator to launch its integrated earthquake model for domestic insurance companies. The new model is said to be the first to provide an integrated view of loss due to ground shaking, tsunami, and liquefaction and features new damage functions for ... Read the full article

Verisk Analytics expands risk modelling services with Arium purchase

23rd January 2017

Verisk Analytics, a data analytics provider, today announced its purchase of Arium - a company specializing in liability risk modelling and decision support. The acquisition will see Arium merge with Verisk Analytics business, AIR Worldwide (AIR), expanding AIR's casualty market modelling solutions and analytics. Bill Churney, President of AIR, said; "We believe ... Read the full article