AIR Worldwide Announces New Corporate Headquarters to Accommodate Expansion.Business Editors/High-Tech Writers BOSTON--(BUSINESS WIRE)--April 5, 2004 AIR Worldwide Corporation (AIR) announces its new corporate headquarters at 131 Dartmouth Street in the Back Bay section of Boston. The new space, which is twice the size of AIR's previous headquarters, is designed to accommodate AIR's fast growing staff. "AIR's growth over the past two years has been phenomenal," said Karen Clark, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AIR Worldwide Corporation. "We've signed more than 40 new clients in the last year. As our client base continues to expand, increasing our staff has been essential to maintaining the quality of service our clients expect." In addition to significant expansions of its software, consulting and support teams, AIR has increased its scientific and engineering staff, who are currently at work developing new models both natural and man-made catastrophes, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Clark. In 2003, AIR released its second-generation numerical weather prediction-based European Windstorm model, enabling European insurers and reinsurers, for the first time, to estimate windstorm wind·storm n. A storm with high winds or violent gusts but little or no rain. windstorm A storm with high winds or violent gusts but little or no rain. losses at the individual risk and policy level utilizing risk modeling techniques based on the actual physics of the atmosphere. Last year also saw the release of updated earthquake and typhoon typhoon: see hurricane. models for Australia, Hong Kong, Indonesia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , the Philippines and Taiwan. AIR's software development team has released a number of innovative products to the insurance industry over the past six months. In November 2003, AIR and ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. launched ISO HomeValue, a Web-based residential replacement cost estimator. January marked the first client installation of CATools, which enables insurers to link their underwriting application directly to AIR catastrophe models, precluding the need to exchange significant data volumes with a separate modeling system. AIR's new address is 131 Dartmouth Street, Boston, MA 02116. Phone and fax numbers are unchanged. AIR has additional offices in the United States, Europe and Asia. About AIR Worldwide Corporation AIR Worldwide Corporation (AIR) is a leading risk modeling company helping clients manage the financial impact of catastrophes and weather. Utilizing the latest science and technology, AIR models natural catastrophes in more than 40 countries and the risk from terrorism in the United States A common definition of terrorism is the systematic use or threatened use of violence to intimidate a population or government and thereby effect political, religious, or ideological change. . Other areas of expertise include site-specific seismic engineering analysis, catastrophe bonds, and property replacement cost valuation. Founded in 1987, AIR offers its insurance, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , corporate and government clients a complete line of risk modeling software and consulting services that produce consistent and reliable results. Headquartered in Boston, AIR has additional offices in North America, Europe and Asia. For more information, please visit www.air-worldwide.com. |
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