Carvill adds AIR to hurricane index

Carvill, has reached an agreement with AIR Worldwide Corporation (AIR), to provide modelled support for the Carvill Hurricane Index (CHI™).

AIR will provide a dataset containing a CHI value for each simulated hurricane in both their standard and near-term U.S. hurricane models.

John Cavanagh, joint chief executive of Carvill, commented: “The importance of having a well-respected independent agency, such as AIR, providing analysis tools and probabilities is priceless. Placing these tools in the hands of market participants will validate the strength and importance of the index which we hope will gain further use and acceptance from the industry as a whole.”

Uday Virkud, senior vice president at AIR Worldwide Corporation, added: “Carvill's actuarial knowledge, extensive experience applying catastrophe modeling, and the risk assessment capabilities demonstrated by the CHI makes Carvill a valuable resource and fitting collaborator with AIR.”