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Hurricane Rafael Bypasses Bermuda: AIR

October 17, 2012 Guest Author

BOSTON, Oct. 17, 2012 – According to catastrophe modeling firm AIR Worldwide, Rafael became the season’s 9th hurricane on Monday after tracking through the Leeward Islands. The storm then bypassed Bermuda late Tuesday evening. As of the National Hurricane Center’s (NHC) 5:00 AM EDT advisory, the storm remains a Category 1 hurricane with a minimum central pressure of 974 mb and maximum sustained winds of 80 mph. Rafael is currently located approximately 310 miles northeast of Bermuda and is moving to the north-northeast at 33 mph. “The storm’s center passed…

AIR Estimates Insured Losses in the U.S. from Hurricane Isaac of between USD 700

August 31, 2012 Guest Author

Hurricane Isaac Damage Report: Catastrophe modeling firm AIR Worldwide estimates that insured losses from Hurricane Isaac to onshore properties in the U.S. will be between USD 700 million and USD 2 billion. AIR estimates include wind and storm surge damage to onshore residential, commercial and industrial properties and their contents, automobiles, and time element coverage (additional living expenses for residential properties and business interruption for commercial properties). “Isaac made two separate landfalls, both as a Category 1 hurricane,” said Dr. Tim Doggett, principal scientist at AIR Worldwide. “The first occurred…

Tropical Storm Ernesto Brings Heavy Rainfall with Second Landfall: AIR

August 10, 2012 Guest Author

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…

Citizens to take another look at its policies for Florida wind mitigation

May 24, 2012April 30, 2013

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…

Windstorm Andrea passes through Europe, causing major damage to all in its path

January 10, 2012May 5, 2013

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…