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AIR Worldwide
At least two dead in 7.8-magnitude New Zealand quake, widespread damage reported
November 14, 2016 by Canadian UnderwriterA powerful magnitude-7.8 earthquake and several large aftershocks struck New Zealand’s South Island in the early morning hours of Monday local time, killing at least two people and injuring several others, Impact Forecasting has reported. The U.S. Geological Survey (USGS)-registered…
Total insured value of U.S. residential and commercial coastal properties now exceeds US$13 trillion: AIR
November 11, 2016 by Canadian UnderwriterThe total insured value of exposed residential and commercial properties in coastal counties in the United States now exceeds US$13 trillion, according to a new report from AIR Worldwide. The catastrophe risk modelling firm released the report titled The Coastline…
Estimated insured losses from Hurricane Matthew for U.S., Caribbean between US$2.8 billion and US$8.8 billion: AIR
October 13, 2016 by Canadian UnderwriterModelled insured losses from Hurricane Matthew could range from US$2.2 billion to US$6.8 billion for the United States and US$600 million to US$2.0 billion for the Caribbean, notes an estimate issued Thursday by AIR Worldwide. Hurricane Matthew affected the Caribbean…
Nearly 2 million homes in Florida, the Carolinas and Georgia at risk of storm surge damage from Hurricane Matthew: CoreLogic
October 6, 2016 by Canadian UnderwriterNearly two million homes in Florida, North and South Carolina and Georgia are risk of storm surge damage from Hurricane Matthew as it makes its way toward the United States’ Atlantic Coast, according to new data from CoreLogic, Inc. On…
Slow-moving Hurricane Matthew expected to make landfall in Haiti on Tuesday as Category 4 storm
October 4, 2016 by Canadian UnderwriterSlow-moving Hurricane Matthew is forecast to make landfall on Haiti’s Tiburon Peninsula around midday on Tuesday as a Category 4 storm, according to the National Hurricane Center (NHC). As one of the most powerful North Atlantic hurricanes in recent history…
Insured losses in mainland China from Typhoon Meranti between US$650 million and US$1.15 billion: AIR
September 30, 2016 by Canadian UnderwriterCatastrophe modelling firm AIR Worldwide is estimating insured losses in mainland China from Typhoon Meranti earlier this month at between US$650 million and US$1.15 billion. Typhoon Meranti experienced rapid intensification on Sept. 11-12, with wind speed increasing more than 150…
Estimated insurable losses from Louisiana floods to range between US$8.5 billion and US$11 billion: AIR Worldwide
September 19, 2016 by Canadian UnderwriterAIR Worldwide is estimating that “industry ground-up insurable losses” from the flooding in Louisiana during August will be between US$8.5 billion and US$11 billion. The catastrophe modelling firm explained in a press release issued on Monday that the “industry ground-up…
Meranti southeast China’s most powerful typhoon in decades
September 16, 2016 by Canadian UnderwriterAlthough Typhoon Meranti weakened significantly as it approached China, it still came ashore with a central pressure of 940 mbar, the equivalent of a Category 4 hurricane – the strongest typhoon in the region since 1949, according to catastrophe modelling…
AIR Worldwide expands terrorism model for 28 countries, including Canada
September 12, 2016 by Canadian UnderwriterCatastrophe risk modelling firm AIR Worldwide announced on Monday that it has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other select countries, including Canada, to help companies assess the…
Typhoon Lionrock brings landslides and flooding to Japan
August 31, 2016 by Canadian UnderwriterTyphoon Lionrock has made landfall in Japan, bringing the intensity of a Category 1 hurricane with resulting landslides and flooding. The typhoon made landfall in the Tohoku region of Japan on Tuesday evening, near the city of Ofunato in Iwate…
Recent earthquakes a reminder that events can happen anywhere: I.I.I.
August 26, 2016 by Canadian UnderwriterThe recent earthquakes in Italy and Myanmar are a warning to homeowners and business owners in regions that may also be at risk to consider purchasing earthquake insurance, notes the Insurance Information Institute (I.I.I.). Just 10% of homeowners in the U.S. have…
Southern Louisiana flooding results in significant property damage: AIR Worldwide
August 16, 2016 by Canadian UnderwriterExtensive precipitation-induced flooding in southern Louisiana, from west of Baton Rouge to Mississippi, has resulted in six deaths, tens of thousands of rescues and significant property damage, catastrophe modelling firm AIR Worldwide said in media advisory issued late Monday. AIR…