NU Online News Service, Sept. 15, 2:43 p.m. EDT
Catastrophe risk modeling firm AIR Worldwide said it has released a major update to its Extratropical Cyclone Model for Europe.
The Boston-based catastrophe modeling firm said that virtually every component of the model was enhanced through the incorporation of significant quantities of wind speed observations and claims data from recent storms, coupled with state-of-the-art modeling techniques.
AIR said the update also incorporates the results of engineering studies that capture the effects of the regional building codes and construction practices on building vulnerability.
The Version 12.0 update to the European ETC model includes additional coverages and lines of business. It includes features for estimating insured losses resulting from the interruption of business operations taking into account such factors as the construction type and the occupancy class. Additional lines of business include automobiles for all modeled countries, as well as forestry for Sweden and Norway.
The AIR Extratropical Cyclone Model for Europe is currently available in Version 12.0 of CLASIC/2 and CATRADER catastrophe risk management systems.
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