AIR Worldwide’s 2010 U.S. Hurricane Model has been certified by the Florida Commission on Hurricane Loss Projection Methodology.
The Boston-based company said its latest release, version 12.0, allows for more precise risk differentiation based on such factors as geography, construction, occupancy, year built and individual building characteristics.
Enhancements include the incorporation of the latest meteorological understanding on hurricane structure, a basin-wide catalog, a model domain expanded by three additional states and more detailed modeling of spatial and temporal variations in vulnerability.
"AIR provided comprehensive documentation and explanations of the new science and data to the Commission and its professional team” to get certification, according to David Lalonde, FCAS, FCIA, MAAA, senior vice president at AIR Worldwide. "Certification to these standards provides AIR model users with increased confidence for employing our models for all catastrophe risk management activities."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio