UK’s Barbican Group to Use AIR’s Cat Risk Management Systems

Boston-based AIR Worldwide Corporation (AIR) announced that Barbican Insurance Group has licensed its catastrophe risk management systems. Barbican trades as Lloyd’s Syndicate 1955 and writes a broad range of Property Direct & Facultative, Casualty Treaty, Marine Treaty and UK regional business including property.

“Barbican will use AIR’s software to assist in the management of its global catastrophe risk,” said the announcement.

“AIR’s catastrophe risk management system helps us to control and efficiently monitor our worldwide catastrophe exposures,” explained Conor Finn, Divisional Manager at Barbican. “Being a start-up, we needed to build our catastrophe modeling operation very quickly. AIR’s approach has helped us to do that.”

Yen Chin, Business Development Executive at AIR Worldwide Ltd. noted that AIR’s London operation possesses “he local expertise and experienced staff to support Barbican with a range of professional services, from policy and schedule data processing to exposure management and risk modeling, while they build their team. This is vital for start-up companies such as Barbican who need to respond to market opportunities at short notice.”

Source: AIR Worldwide – www.air-worldwide.com