BOSTON, Sept. 25, 2006 — AIR Worldwide Corporation (AIR) is introducing a comprehensive education and training program to meet the growing industry need for skilled catastrophe risk modelers and managers. AIR Institute will offer a Catastrophe Modeling Certification Program to review best practices in the use of catastrophe models and provide a better understanding of the science underlying them. The program will commence in February 2007 in Boston. A complete schedule of future sessions will be available shortly on the AIR website.
“AIR’s mission is not only to provide credible, scientifically-based models to the insurance industry, but also to ensure that companies are well equipped to use them,” said Uday Virkud, senior vice president at AIR. “Today, an increased focus on catastrophe models from company management, rating agencies and regulators has resulted in a shortage of skilled modelers. The AIR Institute’s mission is to address the industry’s need by grooming the next generation of modelers.”
AIR’s Catastrophe Modeling Certification Program will be delivered in two parts. The Intensive Qualification Program is a two-day introduction to catastrophe modeling designed for new users. The AIR Advanced Modeling Program is a three-day course covering advanced modeling theories and in-depth applications of the software. Sessions will be scheduled to make it possible for attendees to complete both courses in a week.
The AIR Intensive Qualification Program will provide a general overview of modeling theory and the hurricane and earthquake perils. It will also include a session on exposure data handling and an introduction to AIR’s CLASIC/2™ and CATRADER® catastrophe risk modeling systems.
The AIR Advanced Modeling Program will delve into the details of hurricane and earthquake modeling, the application of physical approaches to catastrophe models such as Numerical Weather Prediction (NWP), and a detailed explanation of AIR’s approach to terrorism, workers’ compensation, and life modeling. From a software perspective, the advanced program will provide details on using CATRADER, CLASIC/2 and CATStation® for underwriting and portfolio management.
About AIR Worldwide Corporation
AIR Worldwide Corporation (AIR) is a leading risk modeling company helping clients manage the financial impact of catastrophes and weather. Utilizing the latest science and technology, AIR models natural catastrophes in more than 40 countries and the risk from terrorism in the United States. Other areas of expertise include site-specific seismic engineering analysis, catastrophe bonds, and property replacement cost valuation. An ISO business, AIR was founded in 1987 to provide its insurance, reinsurance, corporate, and government clients a complete line of risk modeling software and consulting services that produce consistent and reliable results. Headquartered in Boston, AIR has additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Clients use ISO’s databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO services help customers protect people, property and financial assets.
Michael Gannon (AIR Worldwide)