AIR Worldwide Corp. (AIR) has provided risk modeling and analytical services for more than 80% of the $2.1 billion of catastrophe bonds issued to date in 2009. AIR Worldwide has modeled the risk profile for eight securities covering North America and Europe, providing cover for such perils as tropical cyclones, earthquakes, extra-tropical cyclones (winter storms), severe thunderstorms and wildfires. The instruments employ a variety of trigger types, ranging from parametric to indemnity, modeled loss and LAZR (Long-Term Aggregate Zonal Reinsurance).

“As the industry continues to evolve, AIR is committed to supporting the development of innovative transactions,” says David Lalonde, FCAS, FCIA, MAAA, SVP at AIR Worldwide. “Not only has AIR expanded the scope of perils and trigger types used to model a wide range of insurance-linked securities, but we have continued to be innovative in helping non-insurance organizations, such as governments, transfer risk.”

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