AIR Worldwide Updates U.S. Hurricane Model

AIR Worldwide Corporation has recently released version 9.0 of its U.S. Hurricane Model, which features an enhanced methodology for estimating business interruption losses and the new model has been validated using comprehensive claim data from the 2004 and 2005 hurricane seasons.

According to the Insurance Services Office, The new model also features an enhanced methodology for estimating business interruption losses that accounts not only for building damage, but also for building characteristics such as size, contents, and complexity of the building system, and the potential for relocation or for continued operations while repairs are underway.