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AIR Worldwide
Verisk Extreme Event Solutions (formerly AIR Worldwide) is an American risk modeling and data analytics company headquartered in Boston, Massachusetts, with customers in insurance, reinsurance, financial services, and government markets. Verisk Extreme Event Solutions specializes in catastrophe modeling software and services to manage the probability of loss from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. It is led by current President Bill Churney and operates nine offices internationally. History Karen Clark, the developer of the first commercial hurricane catastrophe model, founded Applied Insurance Research in 1987, with CATMAP as its first product introduced later that same year. CATMAP provided a catastrophe loss analysis system for treaty insurers and reinsurers in particular. In late August 1992, AIR published results from its U.S. Hurricane Model that estimated insured losses for Hurricane Andrew's landfall in southern Flor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pandemic
A pandemic () is an epidemic of an infectious disease that has spread across a large region, for instance multiple continents or worldwide, affecting a substantial number of individuals. A widespread endemic (epidemiology), endemic disease with a stable number of infected individuals is not a pandemic. Widespread endemic diseases with a stable number of infected individuals such as recurrences of seasonal influenza are generally excluded as they occur simultaneously in large regions of the globe rather than being spread worldwide. Throughout human history, there have been a number of pandemics of diseases such as smallpox. The most fatal pandemic in recorded history was the Black Death—also known as Plague (disease), The Plague—which killed an estimated 75–200 million people in the 14th century. The term had not been used then but was used for later epidemics, including the 1918 influenza pandemic—more commonly known as the Spanish flu. Current pandemics include Epide ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management Companies
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas ( business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1987 Establishments In Massachusetts
File:1987 Events Collage.png, From top left, clockwise: The MS Herald of Free Enterprise capsizes after leaving the Port of Zeebrugge in Belgium, killing 193; Northwest Airlines Flight 255 crashes after takeoff from Detroit Metropolitan Airport, killing everyone except a little girl; The King's Cross fire kills 31 people after a fire under an escalator flashes-over; The MV Doña Paz sinks after colliding with an oil tanker, drowning almost 4,400 passengers and crew; Typhoon Nina strikes the Philippines; LOT Polish Airlines Flight 5055 crashes outside of Warsaw, taking the lives of all aboard; The USS Stark is struck by Iraqi Exocet missiles in the Persian Gulf; U.S. President Ronald Reagan gives a famous speech, demanding that Soviet leader Mikhail Gorbachev tears down the Berlin Wall., 300x300px, thumb rect 0 0 200 200 Zeebrugge disaster rect 200 0 400 200 Northwest Airlines Flight 255 rect 400 0 600 200 King's Cross fire rect 0 200 300 400 Tear down this wall! rect 300 2 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyber Insurance
Cyber-insurance is a specialty insurance product intended to protect businesses from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Risks of this nature are typically excluded from traditional commercial general liability policies or at least are not specifically defined in traditional insurance products. Coverage provided by cyber-insurance policies may include first-party coverage against losses such as data destruction, extortion, theft, hacking, and denial of service attacks; liability coverage indemnifying companies for losses to others caused, for example, by errors and omissions, failure to safeguard data, or defamation; and other benefits including regular security-audit, post-incident public relations and investigative expenses, and criminal reward funds. Advantages Because the cyber-insurance market in many countries is relatively small compared to other insurance products, its overall impact on eme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyber Risk Quantification
Cyber risk quantification involves the application of risk quantification techniques to an organization's cybersecurity risk. Cyber risk quantification is the process of evaluating the cyber risks that have been identified and then validating, measuring and analyzing the available cyber data using mathematical modeling techniques to accurately represent the organization's cybersecurity environment in a manner that can be used to make informed cybersecurity infrastructure investment and risk transfer decisions. Cyber risk quantification is a supporting activity to cybersecurity risk management; cybersecurity risk management is a component of enterprise risk management and is especially important in organizations and enterprises that are highly dependent upon their information technology (IT) networks and systems for their business operations. One method of quantifying cyber risk is the value-at-risk (VaR) method that is discussed at the January 2015 World Economic Forum meeting. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Services Office
Insurance Services Office, Inc. (ISO), a subsidiary of Verisk Analytics, is a provider of statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace.About ISO Verisk Analytics. Accessed September 1, 2015. Headquartered in , |
Hurricane Andrew
Hurricane Andrew was a very powerful and destructive Category 5 Atlantic hurricane that struck the Bahamas, Florida, and Louisiana in August 1992. It is the most destructive hurricane to ever hit Florida in terms of structures damaged or destroyed, and remained the costliest in financial terms until Hurricane Irma surpassed it 25 years later. Andrew was also the strongest landfalling hurricane in the United States in decades and the costliest hurricane to strike anywhere in the country, until it was surpassed by Katrina in 2005. In addition, Andrew is one of only four tropical cyclones to make landfall in the continental United States as a Category 5, alongside the 1935 Labor Day hurricane, 1969's Camille, and 2018's Michael. While the storm also caused major damage in the Bahamas and Louisiana, the greatest impact was felt in South Florida, where the storm made landfall as a Category 5 hurricane, with 1-minute sustained wind speeds as high as 165 mp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cyberattack
A cyberattack is any offensive maneuver that targets computer information systems, computer networks, infrastructures, or personal computer devices. An attacker is a person or process that attempts to access data, functions, or other restricted areas of the system without authorization, potentially with malicious intent. Depending on the context, cyberattacks can be part of cyber warfare or cyberterrorism. A cyberattack can be employed by sovereign states, individuals, groups, societies or organisations and it may originate from an anonymous source. A product that facilitates a cyberattack is sometimes called a cyber weapon. Cyber attacks have increased with an alarming rate for the last few years A cyberattack may steal, alter, or destroy a specified target by hacking into a susceptible system. Cyberattacks can range from installing spyware on a personal computer to attempting to destroy the infrastructure of entire nations. Legal experts are seeking to limit the use of the ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terrorism
Terrorism, in its broadest sense, is the use of criminal violence to provoke a state of terror or fear, mostly with the intention to achieve political or religious aims. The term is used in this regard primarily to refer to intentional violence during peacetime or in the context of war against non-combatants (mostly civilians and neutral country, neutral military personnel). The terms "terrorist" and "terrorism" originated during the French Revolution of the late 18th century but became widely used internationally and gained worldwide attention in the 1970s during The Troubles, the Troubles in Northern Ireland, the Basque conflict, and the Israeli–Palestinian conflict. The increased use of suicide attacks from the 1980s onwards was typified by the 2001 September 11 attacks in the United States. There are various different definitions of terrorism, with no universal agreement about it. Terrorism is a Loaded language, charged term. It is often used with the connotation of some ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Verisk Analytics
Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey, with customers in insurance, natural resources, financial services, government, and risk management sectors. The company uses proprietary data sets and industry expertise to provide predictive analytics and decision support consultations in areas including fraud prevention, actuarial science, insurance coverage, fire protection, catastrophe and weather risk, and data management. The company was privately held until its October 6, 2009 initial public offering, which raised $1.9 billion for several of the large insurance companies that were its primary shareholders, making it the largest IPO in the United States for the year 2009. The firm did not raise any funds for itself in the IPO, which was designed to provide an opportunity for the firm's casualty and property insurer owners to sell some or all of their holdings and to provide a market price for those ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Disaster
A natural disaster is "the negative impact following an actual occurrence of natural hazard in the event that it significantly harms a community". A natural disaster can cause loss of life or damage property, and typically leaves some economic damage in its wake. The severity of the damage depends on the affected population's resilience and on the infrastructure available. Examples of natural hazards include: avalanche, coastal flooding, cold wave, drought, earthquake, hail, heat wave, hurricane (tropical cyclone), ice storm, landslide, lightning, riverine flooding, strong wind, tornado, typhoon, tsunami, volcanic activity, wildfire, winter weather. In modern times, the divide between natural, man-made and man-accelerated disasters is quite difficult to draw. Human choices and activities like architecture, fire, resource management or even climate change potentially play a role in causing "natural disasters". In fact, the term "natural disaster" has been called a misnom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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