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

November 18, 2013November 18, 2013 Guest Author

Military helping Super Typhoon Haiyan victims

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…

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

November 11, 2013November 11, 2013 PR Article

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.…

Typhoon Nari Makes Landfall South of Baler, Luzon, in the Philippines

October 11, 2013 PR Article

BOSTON, Oct. 11, 2013 – According to catastrophe modeling firm AIR Worldwide, as of 18:50 October 11, 2013 UTC (2:50 October 12, 2013 PHT; 14:50 October 11, 2013 EDT), Typhoon Nari (Santi) made landfall just south of Baler, Luzon, as a Category 1 storm with a central pressure of 975 mb, sustained (10-minute) wind speeds of 120 km/h, and gusts reaching 176 km/h. A radius of 93 km/h winds extends 90 km from the storm’s center. This area is sparsely populated; the only communities in the vicinity are Baler and…

Typhoon Bopha (Pablo) Impacts the Philippines: AIR Worldwide

December 5, 2012 Guest Author

According to catastrophe modeling firm AIR Worldwide, Super typhoon Bopha made landfall at 2100 UTC on the island of Mindanao with a central pressure of 930 mb and 10 min sustained winds of 100 kts (115 mph)). NASA-TRMM data indicate that there were maximum rainfall rates of 50-75 mm/hr at landfall. According to AIR, given that insurance penetration in this area is around 10% to 20%; insured losses are not expected to be high as a result of this event. “Bopha is a unique storm due to its intensity and…

Tropical Storm Nanmadol Poised for China Landfall after Battering Taiwan and Philippines

August 30, 2011 Live Insurance News

BOSTON, Aug. 30, 2011 – According to catastrophe modeling firm AIR Worldwide, Tropical Storm Nanmadol is moving slowly at about 3.2 km/h across the Taiwan Strait toward a landfall in China’s Fujian province sometime in the next 12 hours. Nanmadol’s current sustained winds are at about 85 km/h, having weakened to tropical storm strength after it made a landfall on southernmost Taiwan early Monday morning local time as a Category 1 typhoon. Nanmadol currently is heading toward Xiamen, Fujian’s second-largest city (population 1.5 million, 2010). As of the Japan Meteorological…