Catastrophe modeling company AIR Worldwide Corporation announced that it is sponsoring the Global Earthquake Model (GEM) project.

The project will bring together leading scientists with AIR scientists and engineers to create models based on data sets from around the world, the firm said.

The GEM project, a five year endeavor led by the Organization for Economic Co-operation and Development, is intended to produce the world's first global, open source model for seismic risk assessment with the hope of giving everyone from homeowners to governments accurate earthquake risk assessment.

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