October 30, 2013
A new scientific study on the impact of a major earthquake in Canada, released in Ottawa today by Insurance Bureau of Canada (IBC), leaves no doubt that Canada is not prepared to handle a major earthquake, which could happen at …
March 15, 2013
Catastrophe modeling firm AIR Worldwide (AIR) announced that Peak Reinsurance Co. Ltd. (Peak Re), a reinsurer headquartered in Hong Kong focusing primarily on the Asia-Pacific market, has selected AIR’s catastrophe modeling solutions to manage its catastrophe risk. “Catastrophes are a …
September 14, 2012
U.S. insured losses from Hurricane Issac’s wind and surge impacts on the U.S. Gulf Coast will fall between USD$1−2 billion, excluding rainfall driven flood losses and all National Flood Insurance Program losses, estimates catastrophe modeler Risk Management Solutions (RMS). This …
December 13, 2011
According to catastrophe modeling firm AIR Worldwide, a red alert was issued for winds in Scotland and the Northern UK by the Met Office. As a result, AIR said “widespread structural damage” was likely; flood alerts for 12 rivers and …
September 13, 2011
Hurricane Irene caused between $2.5 billion and $5.5 billion in insured losses in the United States and the Caribbean, excluding flood claims that fall under federal insurance programs, catastrophe modeling company RMS said Monday. RMS’s estimate falls roughly between those …
August 29, 2011
Hurricane Irene is expected to have caused substantial property losses, though figures are still hard to come by because of uncertainty about wind damage, catastrophe modeling company Eqecat said Monday. Analysts at FBR Capital Markets said the storm may have …
June 14, 2011
Monday’s earthquake in Christchurch, New Zealand, likely caused an additional $3 billion to $5 billion in insured losses on top of the damage from two previous quakes, catastrophe modeling company Eqecat said Tuesday. The quake was the third major one …