FM Global to use AIR CLASIC/2TM catastrophe modelling software

FM Global has licensed AIR Worldwide’s CLASIC/2TM catastrophe modelling software to support its catastrophe risk management activities.

One of the world’s largest commercial property insurers, FM Global will use the software to model highly complex wind and earthquake exposures at its commercial and industrial client sites in North America, AIR reports in a statement.

CLASIC/2 takes into account construction, occupancy, age and height of each structure; location-specific geographical and geological information, such as land use, elevation and topography; and insurance policy and reinsurance treaty terms, notes product details on Air’s website. “This translates to better information with which to support risk selection, underwriting and pricing decision.”

Air Worldwide currently models risk from natural catastrophes and terrorism in more than 90 countries.