Typhoon Sanba Makes Landfall in South Korea: AIR

Typhoon Sanba

According to catastrophe modeling firm AIR Worldwide, Typhoon Sanba made landfall on September 17 just before noon local time (3:00 UTC) in South Gyeongsang Province on the southern coast of South Korea. Maximum sustained winds at landfall were around 150 km/h (equivalent to a Category 1 hurricane on the Saffir-Simpson Scale). Sanba subjected both South and North Korea to winds and heavy rains in its north-northeast trek across the peninsula, causing flooding and landslides, transportation service disruptions, and power outages. Significant insured losses in South Korea are not expected from…

Read More

Tenacious Isaac Continues to Deliver Heavy Precipitation to Louisiana

Hurricane insurance Isaac 2012

BOSTON, Aug. 30, 2012 – According to catastrophe modeling firm AIR Worldwide, by 1:00 p.m. CDT this afternoon, August 30, Tropical Storm Isaac was continuing to move slowly northwestward over northern Louisiana producing heavy rains, gusty winds, and high water levels along the northern Gulf coast. The storm, which remains very large, slowly continues to weaken. However, 36 hours after initial landfall, maximum sustained winds as reported by the National Hurricane Center (NHC) are still 40 mph. The storm is expected to continue weakening gradually and it will likely be…

Read More

Carlotta Makes Landfall and Dissipates over Mexico’s Mountainous Terrain

Hurricane Carlotta news

Insurance News – Primary Threat from Flooding and Landslides: AIR BOSTON, June 17, 2012 – According to catastrophe modeling firm AIR Worldwide,  Hurricane Carlotta came onshore Friday night as a Category 1 storm near the Oaxacan town of Puerto Escondido (est. pop. 26,000 in 2010), about 200 miles southeast of Acapulco. According to the National Hurricane Center (NHC), maximum sustained winds were 90 mph at landfall. Given the currently available information, AIR does not expect significant insured losses from Carlotta, the third named storm of the Pacific hurricane season. “Carlotta was…

Read More

Flash Flooding from Tropical Storm Washi in Philippine Island of Mindanao

According to catastrophe modeling firm AIR Worldwide, Tropical Storm Washi pummeled the northern part of the Philippine island of Mindanao late Thursday night. Heavy rainfall from Washi (locally called Sendong) lasted for ten hours, after which flash flooding caused rivers to overflow and coastal cities to flood. In some locations of Mindanao, as much as 20 centimeters of rain fell within a 24 hour period-roughly four times as much rainfall as the region typically receives in the whole of December. In isolated locations, the storm delivered up to 50 millimeters…

Read More

Swiss Re expects long lasting economic impact from Thai floods

Swiss Re, a global reinsurance corporation, has released its estimates of the damage done by the recent flooding in Thailand. Heavy rainfall in July caused widespread flooding in many parts of Thailand. Waters first began receding in late October and many parts of the country are still inundated. More than 600 people have lost their lives to the disaster with many thousand more losing their homes. According to Swiss Re, the damage caused by the floods could cost the insurance industry as much as $11 billion. More than 1,500 industrial…

Read More