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AIR Worldwide Provides Risk Modeling for More than $25 Billion in Total Catastrophe Bond Issuance

September 9, 2013 Guest Author

MONTE CARLO, Monaco & BOSTON, Sept. 9, 2013 – AIR Worldwide (AIR) today announced it has provided risk modeling and analytical services for more than $25 billion in total catastrophe bond issuance, encompassing more than 115 transactions since the market’s inception in 1996. Since the start of 2009, AIR has modeled more than $15 billion in catastrophe bond issuance, including 17 of the 22 property-based bonds issued to date in 2013. AIR’s strong presence in the catastrophe bond space this year follows an equally active 2012, when AIR was selected…

Severe Hailstorms Strike Germany in Late July: AIR Worldwide

August 23, 2013 Guest Author

BOSTON, August 23, 2013 – According to catastrophe modeling firm AIR Worldwide, after a prolonged period of above average temperatures in Central Europe, several severe hail events were triggered on the 27th and 28th of July, ahead of a low pressure system named Andreas. On July 27 in northern Germany, a hail supercell was first reported northeast of Dortmund and propagated toward Wolfsburg. A second severe hail storm on July 28 was similarly triggered, but affected Reutlingen, Nürtingen, and Kirchheim unter Teck in southern Germany, which is a heavily populated…

Munich Re Licenses AIR’s Updated Crop Insurance Models for the United States and China

August 7, 2013 Guest Author

BOSTON, Aug. 7, 2013 — AIR Worldwide (AIR) today announced that it has updated its Multiple Peril Crop Insurance (MPCI) Models for the United States and China. These are weather-based models that estimate underwriting gains and losses based on crop yield probabilities in the context of current conditions. Munich Re, a leading global reinsurer, has licensed the updated models to enhance its risk management capabilities for its catastrophe-exposed agricultural treaties. “The risk associated with agricultural insurance portfolios is extremely complex, which makes them challenging for insurance and reinsurance carriers participating…

AIR Worldwide Appoints Bill Churney Chief Operating Officer

July 23, 2013 Guest Author

BOSTON, July 23, 2013 ─ Catastrophe modeling firm AIR Worldwide (AIR) has appointed Bill Churney to the position of chief operating officer. Churney will have immediate responsibility for all product management, software product development, global business development, marketing, consulting, and client service activities. “We’re extremely pleased to welcome Bill Churney to the newly created position of COO to help lead AIR as we continue to experience rapid growth in the global market for catastrophe modeling and related risk management services,” said Ming Lee, CEO of AIR Worldwide. “Bill has been…

Insurance Industry Rapidly Adopts Touchstone, AIR’s Next-Generation Platform

July 18, 2013 Guest Author

Insurance industry standards and technology

BOSTON, July 18, 2013 — The insurance industry is rapidly adopting TouchstoneTM, AIR Worldwide’s next-generation catastrophe modeling platform. Since the new software’s release in January 2013, Touchstone has gained wide acceptance across the marketplace by some of the largest insurers, reinsurers, and intermediaries. “With the release of Touchstone, AIR is offering a robust and reliable platform that we can easily integrate into our proprietary catastrophe management system, APEX,” said Alan Calder, group head of catastrophe risk at Aspen. “Part of our risk management strategy is to evaluate and understand multiple…