BOSTON, April 2, 2013 — Catastrophe modeling firm AIR Worldwide (AIR) today announced the availability of Public Risk Services, a new consulting service to support the needs of public sector institutions and stakeholders charged with managing catastrophe risk. John W. Rollins, FCAS, MAAA, vice president at AIR Worldwide, will head the new service group.
“Many public groups, including insurance commissioners, wind and earthquake pools, model evaluation commissions, federal insurance programs, prudential and solvency regulators, and quasi-governmental organizations, are increasingly concerned with the micro and macro impact of disasters,” said Rollins. “Some are increasingly bearing the risk on behalf of taxpayers. By offering a dedicated service to these important organizations, we’re fully committed to better serving the public sector as it manages catastrophe risk.”
AIR is establishing Public Risk Services to serve three distinct roles:
A respected leader in the insurance industry, Rollins brings more than 20 years of experience as a property/casualty actuary in a variety of environments, including personal and commercial lines insurance companies and global and regional consulting firms. In a previous tenure, he developed and led significant wind loss analysis and mitigation projects for the Mississippi Insurance Commissioner and the Florida Division of Emergency Management. Rollins has also provided leadership during the process for the acceptance of AIR’s new models by the Florida Commission on Hurricane Loss Projection Methodology and testified before several state legislatures regarding catastrophe modeling issues of interest to the public. He also serves on the Board of Governors of the world’s largest public insurance pool, Florida’s Citizens Property Insurance Corporation, appointed by Florida Governor Rick Scott.
“I couldn’t be happier to lead a team of catastrophe risk professionals and to help the public sector get the full benefit of AIR’s scientific knowledge and unmatched perspective on disaster risk issues and public policy,” continued Rollins. “I believe the viewpoint I’ve gained over recent years in the Florida insurance market and regulatory environment will translate to exciting new opportunities for AIR to serve those charged with the public trust across the United States and worldwide.”
“We’re pleased to launch a new service dedicated to serving the diverse needs of the public sector because disasters touch all segments of the economy,” said Ming Lee, president and CEO at AIR Worldwide. “Our Public Risk Services group is an integral part of our overall mission to help society better understand and manage catastrophe risk.”
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 90 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, and agricultural risk management. AIR is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK) and is headquartered in Boston with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.