Massive EF-5 Tornado Causes Destruction in Moore, Oklahoma

May 21, 2013May 25, 2013 Guest Author

BOSTON, May 21, 2013 – According to catastrophe modeling firm AIR Worldwide, at 3:01 p.m. on Monday, May 20, 2013, a massive tornado struck Moore, Oklahoma, a suburb of Oklahoma City, destroying many homes, businesses, and public buildings, including two elementary schools and a hospital. According to reports and aerial images, property damage in the affected region is extensive, with whole neighborhoods heavily damaged or destroyed. “A slow-moving upper level low pressure system triggered a series of severe thunderstorm outbreaks across the Central Plains starting on May 19,” said Dr.…

AIR Revises Its Industry Insured Loss Estimates for Hurricane Irene in the Bahamas Based on Updated Information Concerning Insurance Penetration

September 15, 2011 Guest Author

BOSTON, Sept. 15, 2011, — Catastrophe modeling firm AIR Worldwide has revised its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between USD 200 million and USD 400 million (previously USD 300 million to USD 700 million). AIR’s loss estimates for other countries in the Caribbean remain unchanged as do the estimates for losses from Irene in the United States. With the new estimates for the Bahamas, AIR now estimates industry insured losses for all impacted Caribbean countries at between USD 400 million and USD 800…