China's major insurance company has completed its first earthquake risk analysis using a U.S. modeling company to make the study.
AIR Worldwide Corporation, the Boston-based risk modeling company, a subsidiary of Jersey City, N.J.-based Insurance Services Office Inc., said today that PICC Property and Casualty Company Limited, the state-owned property-casualty carrier, used AIR's expertise to examine quake risk.
The work, for the company which insures 60 percent of China's p-c market, was coordinated by Guy Carpenter and covers residential, commercial and industrial risks, and construction and erection all risks (CAR/EAR).
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