Life Insurance

AIR Worldwide updates terrorism model for US

Catastrophe modeling firm AIR Worldwide has updated its terrorism model for the United States to provide a more comprehensive projection of the extent of damage from conventional bomb blast attacks.

In a statement, AIR said that reinsurers can use its updated terrorism model to estimate the potential property, business interruption, workers’ compensation, and personal injury losses that can arise from acts of terrorism in the US from conventional bomb blasts.

Read more: CNA chooses AIR Worldwide for cat risk modeling

As part of the new model, AIR used three-dimensional simulations to ensure more accurate blast intensity propagation reflecting the configuration and proximity of buildings in a variety of urban environments. The updated model also reflects learnings from the detonation of a recreational vehicle bomb in downtown Nashville, TN on December 25, 2020.

“When terrorists use conventional weapons – the effects of which tend to be highly localized – they are likely to be targeting specific buildings or facilities,” said Tao Lai, vice president, research at AIR Worldwide. “The amount of damage that occurs at or near the site of an attack depends on a wide variety of factors. In addition to the type of weapon used, the surrounding buildings, building dimensions and blast intensity propagation can have a profound effect on the damage from an attack.”

 

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