Catastrophe risk modeling firm AIR Worldwide released an update to its Extratropical Cyclone Model for Europe. Virtually every component of the model has been 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 says. The update also incorporates the results of engineering studies that capture the effects of the regional building codes and construction practices on building vulnerability.
AIR updated its catalog of simulated storms to better reflect the clustering of storms as they occur within a season. Its scientists employed a "block bootstrapping" technique that employs historical data to generate more realistic simulated storm patterns than traditional approaches employed to model storm occurrence. As a result, AIR ays the model better captures the cumulative effects of multiple storms occurring in succession or concurrently over the same region, while more accurately modeling the impact of smaller individual storms.
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