Nationwide and Allied Insurance are coming together to provide policyholders with quick assistance in the wake of natural disasters that have come to the Southeastern U.S. In the past year, residents of Southeastern states have been inundated with storms, tornadoes and floods. These disasters have caused extensive damage to homes and businesses and put severe strain on the economy of the region. Insurers hold out hope that 2012 will not be a retelling of the previous year in terms of catastrophes, but recent storms have shaken that hope. The two…
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Windstorm Andrea passes through Europe, causing major damage to all in its path
The United Kingdom has fallen victim to the first major windstorm of the year. Windstorm Andrea blew into the country late last week, causing significant damage in Scotland and northern England. AIR Worldwide, a global risk modeling firm, the storm caused damage to the nation’s energy infrastructure, causing several blackouts throughout northern and central UK. Windstorm Andrea is just one of several major storm systems that have come to the country in the past few months. While the UK was severely impacted by the event, the storms intensity paled in…
Read MoreTrillium Software helps insurers and reinsurers obtain more robust catastrophe modelling results
MONTE CARLO, Monaco & BILLERICA, MA – Sept. 13, 2011 – Trillium Software(r), a business of Harte-Hanks, Inc. (NYSE:HHS), and a leading enabler of Total Data Quality solutions, announced today an agreement with AIR Worldwide, the scientific leader and most respected provider of catastrophe risk modelling software, to provide more precise geocoding through the integration of Trillium Software’s geospatial capabilities with AIR’s catastrophe modelling application. The integrated software solution is expected to help AIR Worldwide’s clients improve risk geocoding and catastrophe risk analyses for perils such as wind, flood, and…
Read MoreFlooding costs from Hurricane Irene to be covered in part by taxpayer dollars
As Hurricane Irene bowled through the east coast, it left behind a path of destruction caused by its high winds and rains, with initial estimates for the damage ranging from $2 to $7 billion. That said, much of the bill for rebuilding will be covered by taxpayer dollars. The reason for this additional cost to taxpayers is that the majority of home and business owners in the Northeast don’t have coverage for flooding caused by hurricanes, and the federal insurance program is already facing a debt worth billions of dollars.…
Read MoreIrene Strengthens to Category 3 Hurricane as it Advances Into the Bahamas
BOSTON, Aug. 24, 2011 — As of the National Hurricane Center’s 8:00 am EDT advisory, Category 3 Hurricane Irene is battering the southern Bahamas with sustained winds of 115 mph. According to catastrophe modeling firm AIR Worldwide, Irene is currently 55 miles southeast of Acklins Island and 335 miles southeast of the capital Nassau. The storm is moving to the west-northwest at 9 mph. The center of the storm is headed directly for the Crooked and Acklins Islands, both sparsely populated (estimated population about 880 combined) and characterized by agriculture…
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