Catastrophe modeling firm AIR Worldwide Corporation (AIR) said it has released a new flood model for Great Britain designed to help companies better asses flood risks for properties in England, Wales, and Scotland.

The new model, called the AIR Inland Flood Model for Great Britain, covers residential and commercial lines of business including alternative living expenses and business interruption coverage, AIR said. It incorporates original research by AIR that has been peer-reviewed by a team of leading flood risk experts in the U.K., the modeling firm added.

Additionally, because approximately 50 percent of the losses from the 2007 floods occurred off-flood plain, with much of the losses occurring in highly exposed urban areas, AIR developed a model for off-flood plain loss estimation.

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