AIR Worldwide (AIR) has received certification of its 2010 U.S. Hurricane Model by the Florida Commission on Hurricane Loss Projection Methodology. The Commission certifies models for use by insurers for developing Florida residential and commercial residential property rate filings. AIR has met the standards of the Commission every year since the Commission's inception in 1996.
The Version 12.0 update to the AIR U.S. Hurricane Model includes the incorporation of the latest meteorological understanding on hurricane structure, a basin-wide catalog, a model domain expanded by three additional states to include 29 states and the District of Columbia, and more detailed modeling of spatial and temporal variations in vulnerability. This release will enable significantly more precise risk differentiation based on such factors as geography, construction, occupancy, year built, and individual building characteristics. It will be available in Version 12.0 of CLASIC/2(TM), CATRADER(R), and CATStation(R) catastrophe risk management systems.
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