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AIR Worldwide Estimates Insured Losses for Hurricane Delta Will be Between USD 1 Billion and USD 3 Billion

Boston, Oct. 14, 2020 (GLOBE NEWSWIRE) — Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses to onshore property resulting from Hurricane Delta’s winds and storm surge will range from USD 1 billion to USD 3 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business.

Hurricane Delta made landfall on October 9 around 6 p.m. CDT near Creole, Louisiana, as a Category 2 storm with sustained wind speeds of 100 mph and a central pressure of 970 mb. Delta brought strong winds and storm surge to coastal communities, mainly in southwestern and south-central Louisiana. The southwestern corner of Louisiana was also hit with heavy rainfall, up to 17 inches in some places.

According to AIR, Hurricanes Laura and Delta made landfall roughly 12 miles and six weeks apart. Strong winds from these storms impacted areas in common, including mainly the coastal area of Cameron Parish and Lake Charles and environs, although Delta’s maximum winds were significantly weaker than Laura’s. AIR’s modeling approach assumes independence between these events, which is reflected in the published loss range. Given that the two events affected the same area within a relatively short period of time, however, there are several aspects worth noting.

Before Delta made landfall, aerial imagery showed that many structures in these areas had blue tarps on their roofs; after Delta many of these structures still had blue tarps on their roofs. On the one hand, wind-driven rain and wind-borne debris impacts following Delta could have exacerbated the damage caused by Laura to these properties. Furthermore, structures that may have been weakened by Laura’s winds may have been further damaged by Delta, despite its moderate winds. On the other hand, it could be posited that structures that had the potential to be damaged were already damaged by the relatively-stronger Hurricane Laura, and therefore, not much was left to be damaged by Delta.

It is important to note that two hurricanes impacting the same area within a short period of time is not a new phenomenon; in 2004 Hurricane Frances and Hurricane Jeanne both impacted virtually the same place on the east coast of Florida within six weeks of each other. There were reports of loss amplification at the time, particularly in Florida; given these back-to-back events, the same cannot be ruled out in Louisiana, despite the fact that they are different events and fall under different insurance conditions.

Large surge occurred far east of Delta’s Creole, Louisiana, landfall because of the storm core’s elliptical shape, featuring a huge eye elongated in the east-west direction. Compared to Laura, the maximum surge elevation of Delta was lower, except in southern-central Louisiana from Freshwater Canal Locks eastward to Morgan City, including Vermillion Bay and nearby bays, where surge inundation was most impactful. The parishes more heavily impacted by Delta were farther east than those more heavily impacted by Laura.

According to AIR, the storm flooded and blew tarps off homes and businesses already damaged by Laura and blew shingles off roofs that had not been impacted by the previous storm in the vicinity of landfall, the coastal area of Cameron Parish, and to the northwest, including Lake Charles. The storm also blew shingles off roofs in these areas that had not been impacted by Laura, including Lafayette and environs.

Included in AIR’s estimates are losses to onshore residential, commercial, and industrial properties and

automobiles for their building, contents, and time element coverage.

About AIR Worldwide
AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR’s advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com. For more information about Verisk, a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services, please visit www.verisk.com.

For more information, contact:
Kevin Long
AIR Worldwide
+1-617-267-6645
klong@air-worldwide.com

LaPresse President, Marco Durante on the Covid 19 Pandemic: “We are still in the middle of a Third World War, nobody wants to realise it.”

Marco Durante, LaPresse’s President

MILAN, Italy, Oct. 13, 2020 (GLOBE NEWSWIRE) — The restrictive measures to contain the pandemic, launched by the government within the new Prime Ministerial Decree, are essential. However, “the problem is getting them respected. This is why Italian Prime Minister Giuseppe Conte should have the courage to involve in the army to stop people without a mask. We need to be tough for the good of the country” said Marco Durante, founder and President of LaPresse. He expresses his concern with a view to the numbers of infection that are once again drastically worsening and calls for greater public awareness: “we all need to be aware of the risks, both for health and economy”, says Durante, “to give a sign of greater responsibility. Everyone needs to be able to take a step back” the publisher and entrepreneur insists. “The virus is all over the world and the whole world has to deal with it”, he explains, calling for resistance for the next few months whilst waiting for a vaccine. “Unfortunately, walking out and around we realise that, especially young people but also people my age, are not wearing properly their masks, nor washing their hands… and all this makes the situation worse.”

According to Durante, the explanation of the dramatic rise of new cases is simple: “The infection has increased because, all of a sudden, we have reopened everything: clubs, restaurants, shops. And then schools. The world has to move on, so it’s correct to do it. If we don’t move on, industry will stop and the whole country will stop. But we have to be more careful”. The publisher reiterates the importance of greater prudence, especially at home: “The concern is children bringing the virus home from school, to grandparents and parents. We’re going up again in numbers and now we are close to a targeted lockdown”. A measure to be avoided in order to protect the country’s economy. Therefore, the government should “have the courage to involve the army to stop people without a mask and fining them. Let’s start being tough for the good of the country.”

Looking at neighboring countries, such as France or Spain, our concern grows. “Some time ago”, says Durante, “I said that this was a Third World War. When there’s a war, borders are borders. It is necessary to close everything, but rather to respect the rules of each country. France and Spain are more festive than we are, but so is England, which is in a worse condition than in March. This means something is wrong. People aren’t helping themselves. People need to control themselves. All of us”, he concludes, “on a global level, need to apply more common sense.”

LaPresse SpA Communication and Press Office Direcotor LaPresse:
Barbara Sanicola – barbara.sanicola@lapresse.it PH +39 02 26305578 M +39 333 3905243

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1acd6cb6-af65-41f5-a193-452c41094bb5

 

Romet Introduces BrightLync™ Advanced Communications Platform

A New Day in Energy Measurement

TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) — Romet today introduced BrightLync™ Advanced Communications Platform; a first of its kind, end-to-end intelligent and secure data transmission solution for natural gas distribution and transmission.

BrightLync leverages advancements in wireless communications and distributed computing power to improve system safety and resilience for gas utilities worldwide by easily getting information in the hands of decision makers. Its inherently secure design provides data transmission without the need for additional embedded infrastructure or third-party contracts, reducing deployment time and costs.

“We’re excited to offer a fully integrated communications solution to our customers,” said Brent Collver, Romet’s CEO. “Whether we’re generating accurate and reliable data from our measurement devices, gathering and organizing data with our Advanced Electronics, or transmitting and visualizing data with BrightLync, all our solutions are aimed to accomplish a single goal; customer satisfaction.”

Boasting 2-way communication and a 12-year battery life BrightLync, when paired with Romet’s leading AdEM® platform, provides the opportunity to proactively monitor commercial and industrial customers through serial data access.

BrightLync is just one example of how Romet challenges the status quo and delivers customer-focused innovations while delivering industry leading measurement solutions to gas utilities around the world.

For more information on BrightLync™, Romet’s Advanced Communications Platform, visit: https://www.rometlimited.com/brightlync

Contact info:
Romet Limited
www.rometlimited.com
romet@rometlimited.com