Image Source: AsiaOne
AIR Worldwide Releases Updated Multiple Peril Crop Insurance Model for China GlobeNewswire September 22, 2020 Boston, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Catastrophe risk modeling firm AIR Worldwide (AIR) today announced that it released an updated Multiple Peril Crop Insurance (MPCI) Model for China to support probabilistic assessments for five newly modeled crop lines of business and a newly modeled sub-peril. This update also includes a new livestock module that adds six additional lines of business and two new sub-perils. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. “In 2011, AIR leveraged its considerable experience and success in modeling MPCI portfolios in the United States to develop a model for mainland China. Since then, the model has been updated several times to keep it current with the fast-changing Chinese agricultural insurance market,” said Dr. Jeff Amthor, assistant vice president, AIR Worldwide. “The MPCI Model for China captures the severity, frequency, and location of drought, flood, wind, frost, and heat events nationwide, covering over 90% of the weather-related crop losses.”
Source: AsiaOne