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Commercial Insurance Will Drive Peru Earthquake Losses: AIR

AIR Worldwide, a Boston-based catastrophe modeling firm, said yesterday the magnitude-8 earthquake Wednesday in Peru won't cause much in the way of personal insurance losses, but may hit commercial li

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AIR Worldwide, a Boston-based catastrophe modeling firm, said yesterday the magnitude-8 earthquake Wednesday in Peru won’t cause much in the way of personal insurance losses, but may hit commercial lines.

AIR said this morning that insured losses are not likely to exceed $1 billion. AIR warned that it is still in the very early aftermath and there remains uncertainty concerning the quake’s actual parameters.

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