Lockton Companies has selected the Touchstone software platform from AIR Worldwide to help it stress-test flood coverage and evaluate exposure to severe thunderstorm risk.
Delivered in a cloud-based model, Touchstone will provide the broker's clients clients with insights about a wide range of perils beyond traditional earthquake and hurricane exposures.
"AIR's Touchstone risk management platform enables Lockton to conduct flood coverage analyses, in-depth retention scenarios, and enhanced catastrophe risk assessment," said Mike Andler, Lockton's EVP and US Property Leader. "The move to bring this catastrophe modeling solution in-house reflects a high demand for evaluating risk due to the increasing number of devastating catastrophic events, including inland floods, severe thunderstorms, hail, tornado, and lightning. The AIR models provide another data point to gauge multi-location exposure limit, especially for businesses which do not have coastal wind or earthquake exposure."
