catastrophe modeling News

Canada Not Prepared for a Major Earthquake, New Study Warns

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 …

Peak Re Licenses AIR Worldwide Catastrophe Modeling Systems

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 …

RMS: Hurricane Isaac Insured Losses between $1 to $2B from Wind and Surge

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 …

AIR: Northern UK, Scotland Battered by Windstorm Friedhelm

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 …

RMS Pegs Irene Insured Losses Between $2.5 and $5.5B

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 …

Irene Insured Losses Significant, Figures Still Uncertain

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 …

Eqecat Reports Up to $5 Billion in Damages in Latest New Zealand Quake

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 …