KANSAS CITY, Mo., Oct. 12, 2016 /PRNewswire/ -- Lockton Companies, the world's largest privately held, independent insurance broker, today announced it is collaborating with leading catastrophe modeling firm AIR Worldwide, to introduce a new way to stress-test flood coverage and evaluate exposure to severe thunderstorm risk. Lockton will connect to AIR's software platform Touchstone® through the AIR Cloud, a secure, feature-rich environment that enables Lockton to conduct all of its analyses from anywhere, while minimizing capital expenditure.
"AIR's Touchstone risk management platform enables Lockton to conduct flood coverage analyses, in-depth retention scenarios, and enhanced catastrophe risk assessment," said Mike Andler, Lockton's Executive Vice President, US Property Leader. "The move to bring this catastrophe modeling solution in-house reflects a high demand for evaluating risk due to the increasing number of devastating catastrophic events, including inland floods, severe thunderstorms, hail, tornado, and lightning. The AIR models provide another data point to gauge multi-location exposure limit, especially for businesses which do not have coastal wind or earthquake exposure."