Tornado Outbreak in the Midwest on Sunday Destroys Hundreds of Homes: AIR

Homeowners insurance losses oklahoma tornado

BOSTON, Nov. 19, 2013 – According to catastrophe modeling firm AIR Worldwide, on Sunday, November 17, 2013, an outbreak of intense late-season thunderstorms accompanied by high winds, quarter-to-baseball sized hail, and dozens of tornadoes swept across the Midwest, flattening hundreds of homes. While tornadoes were sighted in several states, including Kentucky, Indiana, and Ohio, the most damaging twisters occurred in central Illinois. According to preliminary reports from the NOAA Storm Prediction Center (SPC), 80 tornadoes were produced by this severe thunderstorm outbreak, making it the second most active severe weather…

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M6.3 Earthquake Strikes Iran Coast near Nuclear Plant, Minimal Insured Losses Expected

Iran Earthquake

According to catastrophe modeling firm AIR Worldwide, this morning, an M6.3 earthquake struck 55 miles southeast of Bandar Bushehr near Iran’s southwest coast, however insurance losses are expected to be minimal. According to the United States Geological Survey (USGS), the earthquake occurred at 3:22 p.m. local time (11:52:50 UTC) and struck at a depth of 10 kilometers (6 miles). The main shock was followed by six aftershocks, according to the Iran Seismological Centre, the strongest of which was M5.3. According to AIR, with its epicenter located at 28.5° North latitude…

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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…

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AIR Worldwide marks 200th anniversary of New Madrid Earthquake with special report

It has been 200 years since the New Madrid Earthquake, a major seismic event that rattled the Central U.S. in the winter of 1811. The quake, which was estimated as being a 7.0, struck what is, today, Missouri. To mark the occasion, AIR Worldwide, a catastrophe modeling firm serving the insurance industry, has released a new report titled “The New Madrid Earthquake Bicentennial: Revisiting A Midwest Mystery.” The report details how much the catastrophe modeling community has changes in the centuries following the disaster and estimates the financial impacts of…

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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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