BOSTON, June 25, 2013 – AIR Worldwide (AIR) today announced the certification of the latest release of its Hurricane Model for the United States by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). The Commission certifies models for use by insurers for developing Florida residential and commercial residential property rate filings. AIR has consistently met the rigorous standards of the FCHLPM since the Commission’s inception of model reviews in 1996.
“We’re pleased that the AIR model met all the standards set forth by the Florida Commission,” said Brandie Andrews, senior manager, consulting and client services, AIR Worldwide. “Certification by the Commission gives AIR model users increased confidence in employing our models for all of their catastrophe risk management activities.”
The latest release of the AIR Hurricane Model for the United States incorporates the 2011 update of NOAA’s Atlantic basin hurricane database. This includes storms through 2010 and reanalysis data through 1930.
AIR’s U.S. Hurricane Model is available in Version 15.0 of CLASIC/2TM, which the Commission also certified, as well as in the CATRADER®, CATStation®, and Touchstone™ catastrophe risk management systems.
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.