AIR Estimates Insured Losses from Super Typhoon Haiyan at Between USD 300 Million

Catastrophe modeling firm AIR Worldwide estimates that total damage to residential, commercial, and agricultural properties from Super Typhoon Haiyan will range… between USD 6.5 billion and USD 14.5 billion. However, because insurance penetration in the region is relatively low, AIR estimates that insured losses will range between USD 300 million and USD 700 million. “Super Typhoon Haiyan made landfall on the southern tip of Samar Island early morning local time on November 8 as one of the most powerful tropical cyclones in modern record-keeping,” said Dr. Peter Sousounis, senior principal…

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Typhoon Wipha Causes Flooding and Mudslides in Izu Oshima before Dissipating: AIR

BOSTON, Oct. 16, 2013 – According to catastrophe modeling firm AIR Worldwide, although Typhoon Wipha did not make landfall on Japan’s main island of Honshu today,as had been expected, the storm brought soaking rain and gusty winds to much of both Honshu and Hokkaido, including the Tokyo region, which experienced a total of 150-300 mm (6-12 inches) of rain. Tokyo International Airport reported some of the highest sustained wind speeds in Japan from this storm: 79 km/h (49 mph) 10-min sustained and a 116 km/h (72 mph) gust. However, Tokyo…

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Tokyo Braces for Strongest Storm since 2004 as Typhoon Wipha Approaches: AIR Worldwide

Hurricane Isaac Homeowners Insurance Industry Damages

BOSTON, Oct. 15, 2013 – According to catastrophe modeling firm AIR Worldwide, Tokyo is bracing itself for its strongest typhoon since October 2004. Wipha, the eighth typhoon of 2013 and the 26th named tropical cyclone of the year, is a huge storm system currently moving northeastward toward Japan. It will likely follow the coast and pass close to Tokyo around the morning rush hour on Wednesday, bringing with it powerful winds and heavy rain. According to the Japan Meteorological Agency (JMA), as of 14 UTC on October 15, Typhoon Wipha…

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M 7.3 Earthquake Strikes Off Japan; Little Damage Reported: AIR

Insurance industry News

BOSTON, Dec. 7, 2012 – According to catastrophe modeling firm AIR Worldwide, a magnitude 7.3 earthquake struck off the northeast coast of Japan today, 270 kilometers from the Japanese city of Sendai, at 18:18:24 local time. The event struck in the same plate boundary region impacted by last year’s devastating M 9.0 Tohoku earthquake, although that quake’s epicenter was about 150 kilometers closer to mainland Japan. According to AIR, given the distance of this event from shore, only minimal non-structural damage is expected, and insured losses are not expected to…

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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…

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Typhoon Nesat Makes Double China Landfall: on Hainan Island and on the Leizhou

According to catastrophe modeling firm AIR Worldwide, Typhoon Nesat made landfall as a moderate Category 1 storm on the northeastern corner of the island of Hainan at 2:30 pm local time (6:30 UTC) Thursday, near the city of Wenchang in Wengtian Township. Its maximum sustained wind speeds at the time were 135 km/h. After crossing the northeastern tip of the island and moving along Hainan’s northern coast, Nesat turned sharply north, crossed the narrow (25 km) Qiongshou Strait, and made a second China landfall on the western coast of the…

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Typhoon Roke Heads for Japan

BOSTON, Sept. 20, 2011 – According to catastrophe modeling firm AIR Worldwide, while still reeling from the effects of Typhoon Talas last month, more than a million people were evacuated in central and western Japan in advance of Typhoon Roke’s arrival in Japan. Roke formed on September 10 to become the 15th named storm of the 2011 Northwest Pacific Typhoon Season. The storm is currently being steered around the western boundary of a nearly stationary subtropical ridge. The eye of Roke, which has become less organized over the last few…

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