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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Catastrophic Destruction in the Central Philippines from Wind, Surge in Typhoon Haiyan’s Wake: AIR Worldwide

According to catastrophe modeling firm AIR Worldwide, in the three days since Super Typhoon Haiyan roared through the central Philippines, the scale of the devastation revealed in its wake continues to escalate. Preliminary analyses suggest that Haiyan (named Yolanda in the Philippines) may have been the strongest storm to make landfall anywhere in the world in recorded history. With sustained winds estimated at 315 km/h (196 mph) at its first landfall, according to the Joint Typhoon Warning Center (JTWC), the storm maintained impressive wind speeds as it traversed the Philippines.…

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