BOSTON, Aug. 10, 2012 – According to catastrophe modeling firm AIR Worldwide, Tropical Storm Ernesto made its second landfall on Thursday, August 9 at around 1:00 PM CDT in southern part of the Mexican state of Veracruz. Wind damage is expected to be minimal, but the storm’s heavy rainfall is expected to continue throughout the day, even as the system dissipates. Significant insured losses are currently not expected from Ernesto. Interestingly, global models suggest that the remnants of Ernesto may redevelop into a tropical cyclone early next week after exiting…
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Citizens to take another look at its policies for Florida wind mitigation
The company is having another look at the way it offers this coverage, though higher rates are likely. The state backed insurer, Citizens Property Insurance Corp., has stated that in response to the calls that have been made to match the premiums to the risk, it will be reexamining its Florida wind mitigation, which was first established ten years ago. This will mean that many customers will see an increase in the rates they pay. The company intends to look into the residential policies of 209,000 people before the end…
Read MoreWindstorm 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 MoreNorthwest Europe Battered by Windstorm Ulli
BOSTON, January 4, 2012 – According to catastrophe modeling firm AIR Worldwide, Windstorm Ulli is passing through Scandanavia and is expected to dissipate as it moves over the Baltic Sea today. A class 2 weather warning from the Swedish Meteorological and Hydrological Institute (SMHI) is still in force indicating the possibility of “danger to the public, causing major damage to property and major disruptions in essential services.” “Ulli was first recognized as a named low pressure system when it was located southwest of Newfoundland on December 31st making it the…
Read MoreHurricane Jova Heads Toward Mexico
According to catastrophe modeling firm AIR Worldwide, Jova, the ninth hurricane of the eastern Pacific season and the tenth named storm is 250 miles southwest of the port city of Manzanillo (population 100,000) in the state of Colima, Mexico. As of the National Hurricane Center’s 8:00 a.m. PDT advisory today, the storm is tracking east at 5 mph. Having undergone significant intensification overnight, maximum sustained winds are now 125 mph with higher gusts. “The storm is a significant threat because it is slow-moving, and the potential exists for major flooding…
Read MoreTyphoon Roke Moves Offshore after Passing Near Tokyo And Bringing Heavy Rainfall
BOSTON, Sept. 21, 2011-According to catastrophe modeling firm AIR Worldwide, after crossing over more than 350 kilometers of the main Japanese island of Honshu,Typhoon Roke, the 15th named storm of the 2011 Northwest Pacific typhoon season, has moved out to sea and is currently headed toward the Kuril Islands, northeast of Hokaido. Roke passed to the west of Tokyo early yesterday evening local time. “Roke made landfall about 250 kilometers southwest of Tokyo in Shizuoka Prefecture near Hamamatsu City at about 2:00 pm local time,” said Dr. Peter Sousounis, principal…
Read MoreAIR Worldwide Estimates Insured Losses in the Caribbean from Hurricane Irene at
BOSTON, Aug. 26, 2011 -AIR Worldwide estimates that insured losses in the Caribbean from Hurricane Irene will be between USD 500 million and USD 1.1 billion. AIR expects the Bahamas will account for more than 60% of the insured loss-between USD 300 million and USD 700 million. This estimate includes wind and precipitation-induced flood damage to insured onshore residential, commercial and industrial properties (and their contents), automobiles, and business interruption losses in the Bahamas, Puerto Rico, Dominican Republic, Turks and Caicos, and other Caribbean territories. Hurricane Irene has exited the…
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