Understanding Insurance

understanding insurance

Life is a beautiful thing, but it’s also full of risks. Every day when we get out of bed, we face a world full of dangers. We can weather a lot of bad things in life, but not every bad outcome is something that we can handle on our own. A broken bone can be painful and expensive, but a serious illness can put even the most financially cautious people in debt. When some things in our home break down, we can reach into our pocket and pony up the…

Read More

Northern Europe Cleans Up After Extratropical Cyclone Xaver: AIR

flood insurance

BOSTON, Dec. 10, 2013 – According to catastrophe modeling firm AIR Worldwide, last week, Extratropical Cyclone Xaver affected large parts of northern Europe, particularly the United Kingdom, Northern Ireland, Germany, the Netherlands, Belgium, Denmark, southern Sweden, Poland, and the Czech Republic. Xaver followed approximately five weeks after Windstorm Christian battered Denmark, Germany, the Netherlands, France, UK, and Sweden in late October. AIR estimated insured losses of between EUR 1.5 billion and EUR 2.3 billion from Christian. “Hurricane-force winds caused widespread power outages and travel disruptions throughout the region, but the…

Read More

Downgraded Tropical Storm Ingrid Makes Landfall on Mexico’s East Coast: AIR Worldwide

wind property Insurance news

BOSTON, Sept. 16, 2013 – According to catastrophe modeling firm AIR Worldwide, Tropical Storm Ingrid had weakened from its Category 1 hurricane status by the time it made landfall near the small town of La Pesca on the eastern coast of Mexico between 6:00 and 7:00 a.m. CDT this morning. The National Hurricane Center’s 7:00 a.m. CDT Public Advisory reported that an Air Force Hurricane Hunter aircraft and radar imagery had confirmed that Ingrid had made landfall and that the storm’s wind speed had not increased in intensity as anticipated…

Read More

Tropical Storm Gabrielle Buffets Bermuda, First Hurricane of 2013 Season Forms: AIR

Windstorm Insurance

BOSTON, Sept. 11, 2013 – According to catastrophe modeling firm AIR Worldwide, one day after regenerating into a tropical storm after fizzling in the Caribbean last week, Gabrielle’s center came within 65 km (40 miles) west-southwest of Bermuda this morning. As of the National Hurricane Center’s (NHC) 11 a.m. AST advisory today, Gabrielle was about 90 km (55 miles) west of Bermuda and has moved little over the past few hours. “The storm’s maximum sustained winds weakened to 80 km/h (50 mph), although tropical storm force wind gusts could continue…

Read More

AIR Worldwide Reports from Areas Affected by Sandy

Hurricane Sandy Damage flood Insurance surcharge

According to catastrophe modeling firm AIR Worldwide, Sandy’s diameter made it the largest Atlantic hurricane on record in terms of the span of tropical storm-force winds. The huge radius helped to keep the winds at Category 1 intensity and allowed the storm to interact with a system from the west that resulted in severe weather across a wide swath of the eastern United States. This week two AIR teams were deployed to survey damage in New York and New Jersey. Commentary in this report provide an initial glimpse into the…

Read More