AIR is updating its modeling software platform, Touchstone, withthe ability to analyze noncatastrophe risk using the same exposuredata existing clients use for their catastrophemodeling. 

Noncatastrophe perils are dominated by fire and also includelightning, explosion, vandalism, sprinkler leakage, fallen treesand wind.

Touchstone users will now be able to calculate noncatastropheexpected losses for each location within an exposure data set;distribute noncatastrophe expected losses into excess loss layers;launch both cat and noncat analysis for the same exposure data; andview and export both sets of analysis results.

"We envision that in future releases of Touchstone, companieswill have the ability to add their own loss cost data forindividual locations, both inside and outside of the U.S.; and toenter adjustments to loss costs based on their specific exposures,"says Ming Lee, president & CEO of AIR Worldwide.

He continues, "Our vision for Touchstone is driven by our goalto provide the broadest range of analytics and services to help ourclients develop a comprehensive risk management strategy, beyondour traditional focus on catastrophe events. That includesnoncatastrophe loss information from ISO as well as analytics fromother Verisk companies such as AER and Xactware, which willsupplement the catastrophe loss analyses companies are undertakingtoday."

In August, AIR announced a milestone of providing risk modelingand analytical services for more than $25 billion in totalcatastrophe bond issuance since the market's inception in 1996,including more than $15 billion for the 17 out of 22 property-basedbonds issued to date in 2013.   

In April 2009, AIR was the first firm to have modeled more than$10 billion in catastrophe bond limit, a figure that included thefirst ever catastrophe bond.