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Member, Beacon International Group, Ltd.
U.S.-based catastrophe risk modeling firm AIR Worldwide Corp. has launched a severe thunderstorm risk model for Australia that captures the three main sub-perils of tornado, hail and straight-line winds, Artemis.bm reports. The AIR Severe Thunderstorm Model allows users to simulate daily severe thunderstorm activity based on historical occurrence rates, as well as local and seasonal weather patterns. Australia has been hit by a number of thunderstorms in recent years that resulted in large insurance payouts.