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AIR Worldwide
Expected insured losses from present-day Hurricane Andrew would total US$56 billion: AIR Worldwide
August 21, 2017 by Canadian UnderwriterIf Hurricane Andrew were to occur today, 25 years after its original landfall, the expected total industry insured losses (based on today’s exposures) would be approximately US$56 billion in the United States, catastrophe risk modelling firm AIR Worldwide reported on…
Earth likely to see increase in frequency and intensity of storms, wildfires and flooding: AIR Worldwide
July 5, 2017 by Canadian UnderwriterThe earth is likely to see an increase in the frequency and intensity of weather phenomena, including severe thunderstorms, wildfires, inland floods and coastal flood, according to projections from catastrophe risk modelling firm AIR Worldwide. The projections were contained in…
Investment income doubles for Canadian P&C industry: MSA
June 27, 2017 by Canadian UnderwriterThe Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.…
AIR Worldwide releases probabilistic crop hail model for Canada
June 26, 2017 by Canadian UnderwriterAIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available…
Cyber insurance policies expected to become more similar in next few years: CIFF speaker
May 26, 2017 by Angela StelmakowichA lot more convergence in cyber insurance policies is expected within the next few years as policies, exclusions and wording get tested and case law develops, John Elbl suggested Wednesday during a panel discussion at MSA Research Inc.’s Canadian Insurance…
Silent cyber a big issue, most companies with insurance book have exposure: AIR Worldwide’s Stransky
April 25, 2017 Angela StelmakowichPHILADELPHIA – Silence is decidedly not golden when it comes to cyber risk, Scott Stransky, assistant vice president and principal scientist for AIR Worldwide, suggested to Canadian Underwriter in advance of the RIMS 2017 Annual Conference & Exhibition. Silent cyber…
Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers
April 12, 2017 by Canadian UnderwriterThe Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as…
Insured losses from Cyclone Debbie reach AU$306 million: Insurance Council of Australia
April 4, 2017 by Canadian UnderwriterThe Insurance Council of Australia (ICA) has estimated insured losses to date from Tropical Cyclone Debbie at AU$306 million from 28,000 claims. ICA estimated the insured losses as of 9 a.m. on Tuesday. It also warned in a press release…
Cyclone Debbie barrels into Australia with damaging winds, flooding rain: AIR
March 29, 2017 by Canadian UnderwriterAustralia is experiencing its most powerful storm since 2011, as Cyclone Debbie roared ashore in Queensland, Australia as a Category 4 storm shortly after noon on Tuesday. Catastrophe modelling firm AIR Worldwide said that Cyclone Debbie struck Airlie Beach as…
Data-driven methodology allows (re)insurers to identify liability risk exposure across entire portfolios
March 16, 2017 by Canadian UnderwriterLloyd’s reports that a partnership with modelling company Arium has produced a data-driven methodology that will allow (re)insurers to model liability risk exposure probabilistically across entire portfolios. The approach – the result of a three-year project between Lloyd’s and Arium…
Insured losses of New Zealand quake could be as much as US$3.5 billion: AIR Worldwide
November 18, 2016 by Canadian UnderwriterThe largest earthquake to hit New Zealand since 2009, registering magnitude 7.8, could contribute to insured losses amounting to US$762 million to US$3.5 billion, catastrophe modelling firm AIR Worldwide reported Thursday. The modelled estimates include insured physical damage to property…
Powerful aftershocks, some as high as magnitude-6.5, strike New Zealand after original M7.8 earthquake: AIR
November 15, 2016 by Canadian UnderwriterPowerful aftershocks have shaken New Zealand since a magnitude-7.8 earthquake struck South Island near Hanmer Springs at 12:02 a.m. local time on Nov. 14, some as strong as magnitude-6.5, AIR Worldwide said on Monday. Although damage has been relatively light,…