BOSTON, MA, Aug. 30, 2010 — AIR Worldwide (AIR) today announced that Atrium Underwriting Group Limited (Atrium), a leading specialist insurer and reinsurer at Lloyd’s of London, will use AIR’s catastrophe modeling software to enhance the underwriting processes of Syndicate 609 and better manage global catastrophe risk.
Syndicate 609 largely writes onshore and offshore direct and facultative (D&F) business and will rely on CLASIC/2TM, the application of choice for companies who need to accurately assess catastrophe risk down to the individual location level.
“We recognise the increasing importance of catastrophe modelling tools within our business,” said Richard Harries, active underwriter of Syndicate 609 Atrium. “In choosing AIR we feel we have selected the best in this field and look forward to a long and mutually beneficial relationship with them.”
“We are delighted that Atrium chose AIR as their sole provider of catastrophe risk management software,” said Dr. Milan Simic, managing director of AIR Worldwide, London. “Atrium’s selection of AIR for both onshore and offshore D&F modeling is confirmation of the growing presence of AIR across all classes of business in the London market.”
“We were particularly impressed by the diligent and detailed selection process that Atrium carried out over a period of several months and several lines of business,” added Yen Chin, business development executive at AIR Worldwide, London.
About AIR Worldwide
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987 and today models the risk from natural catastrophes and terrorism in more than 50 countries. More than 400 insurance, reinsurance, financial, corporate, and government clients rely on AIR software and services for catastrophe risk management, insurance-linked securities, detailed site-specific wind and seismic engineering analyses, agricultural risk management, and property replacement-cost valuation. AIR is a member of the ISO family of companies and is headquartered in Boston with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.