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The Navigators Group Manages Risk Using AIR Worldwide’s Catastrophe Modeling Solution
By: Business Wire
Nov. 14, 2012 07:10 AM
AIR Worldwide (AIR) today announced that The Navigators Group, Inc., an international commercial property/casualty specialty insurance holding company, has selected AIR’s CLASIC/2™ and CATRADER® catastrophe modeling solutions to manage its global catastrophe risk. The Navigators Group will leverage AIR’s catastrophe models to assess risk from wind, flood, and earthquake for their exposures in North America, Latin America, Europe, and Japan.
“Navigators writes a specialized book of business, and we felt that AIR’s framework for modeling our insurance and reinsurance business was a strong fit,” said Ron Nash, group aggregation manager at The Navigators Group. “We appreciate AIR’s experience and reputation in catastrophe modeling and feel that they are well positioned to meet our catastrophe modeling needs around the world.”
AIR’s CLASIC/2 and CATRADER catastrophe risk management solutions are designed to meet the complex needs of the insurance industry, enabling companies to assess catastrophe loss potential from the portfolio level down to the individual location level. AIR’s innovative catastrophe models are state-of-the-art and incorporate advances in science and engineering to provide a comprehensive and realistic view of risk.
“AIR offers reliable and market-leading catastrophe models with the geographic and peril coverage that The Navigators Group requires for their specialty lines of insurance and reinsurance,” said Bill Churney, senior vice president at AIR Worldwide. “We’re pleased that The Navigators Group has selected AIR as a trusted modeling solution, which is further proof that our models are best-in-class for commercial exposures.”
About The Navigators Group, Inc.
The Navigators Group, Inc., is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd’s of London. Headquartered in New York, Navigators has offices in major insurance centers in the United States, the United Kingdom, and Continental Europe.
About AIR Worldwide
AIR Worldwide (AIR) is the scientific leader and most respected provider of risk modeling software and consulting services. AIR founded the catastrophe modeling industry in 1987 and today models the risk from natural catastrophes and terrorism in more than 90 countries. More than 400 insurance, reinsurance, financial, corporate, and government clients rely on AIR software and services for catastrophe risk management, insurance-linked securities, detailed site-specific wind and seismic engineering analyses, and agricultural risk management. AIR is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK) and is headquartered in Boston with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.
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