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Ida insured flood losses seen $11bn to $17bn by CoreLogic

Data and analytics company CoreLogic has provided an insurance market loss estimate for the flooding caused by hurricane Ida's remnants in the northeastern states of the US, saying it will range from $5 billion to as much as $8 billion. That's on top of CoreLogic's estimated $6 billion to $9 billion read the full article →

RMS says hurricane Ida loss $25bn to $35bn, on Gulf region impacts only

Catastrophe risk modeller RMS has provided the clearest view of the escalation in industry loss estimates for recent hurricane Ida, pegging the total onshore and offshore losses for the Gulf region at between $25 billion and $35 billion. This doesn't include any of the damages experienced further north from hurricane Ida's read the full article →

Hurricane Ida loss estimates rising towards $30bn to $40bn: Goldman Sachs

Estimates for insurance and reinsurance market losses from recent hurricane Ida are rising with the inclusion of damages from the storms remnants that occurred further north, according to analysts at Goldman Sachs. Right after hurricane Ida slammed into Louisiana as a major Category 4 storm with 150 mph winds, loss estimates read the full article →

Hurricane Ida insured wind & storm surge losses seen at up to $25bn by AIR

AIR Worldwide has estimated that insurance and reinsurance industry losses to onshore property resulting from the wind and storm surge impacts of Hurricane Ida will be between $17 billion and $25 billion. This estimate from AIR compares to CoreLogic's industry loss range of $14 billion to $21 billion, and Karen Clark read the full article →

AIR releases Touchstone 2.0, adds non-catastrophe risk analysis

Risk modelling firm AIR Worldwide has released version 2.0 of its Touchstone catastrophe modelling platform. The new version includes the ability to account for both catastrophe and non-catastrophe risks in a single platform, providing a single view of exposures. Including non-catastrophe risks (for example, fire, lightning, explosion, vandalism) enables insurers, reinsurers read the full article →

Dr. Jayanta Guin appointed Executive Vice President at AIR Worldwide

Dr. Jayanta Guin has been appointed executive vice president at AIR Worldwide, a member of the Verisk Insurance Solutions group at Verisk Analytics, according to an announcement from the catastrophe risk modelling firm. In this new role, Dr. Guin will continue to direct the research programs at AIR Worldwide as well read the full article →

AIR integrates third-party catastrophe data & models into Touchstone

Catastrophe risk modelling company AIR Worldwide has announced that it is integrating risk models and data from a number of third-party suppliers within its Touchstone risk modelling software platform. Due to widespread and successful adoption of Touchstone, AIR said that a large number of third-party risk modelling companies and catastrophe risk read the full article →

AIR Worldwide updates European windstorm and earthquake models

Risk modeller AIR Worldwide has announced tha launch of updated versions of their European windstorm and European earthquake catastrophe risk models. The new versions of the models feature updates, include new data, cover new countries and AIR say provide "a consistent and comprehensive assessment of the extratropical cyclone and earthquake read the full article →

Residential Reinsurance 2009 Ltd. Class 2009-1 notes downgraded on AIR Worldwide model change

Here's a piece of news that you may not be expecting which has just broken and could hint at how the much discussed RMS risk model change may be reacted to by the ratings agencies. One tranche of USAA's 2009 Residential Reinsurance 2009 Ltd. catastrophe bond has been downgraded due read the full article →