What's New in 2021 (9.0) Validation Reference

What's new in 2021 validation reference

New and Updated Models

  • Updated 2021 models include:

    • AIR Earthquake Model for Japan

    • AIR Typhoon Model for Japan

    • AIR Terrorism Model

    • AIR U.S. Hurricane Model for Offshore Assets

    • AIR Hurricane Model for the United States

Marine LOB Modeling

  • AIR continues to enhance its marine modeling solution. This release supports damage functions for an expanded list of construction and occupancy codes for the modeling of marine cargo, fine arts, and specie risks. AIR provides support for the new codes in the following models: AIR Hurricane Model for the United States, AIR Earthquake Model for the United StatesAIR Earthquake Model for Japan, AIR Typhoon Model for Japan, AIR Tropical Cyclone Model for the Caribbean, and AIR Earthquake Model for the Caribbean.

Other Updates

  • AIR Severe Thunderstorm Model for the United States: In Touchstone 2021, AIR introduced support for the import of sub-peril codes individually for hail, tornado, and straight-line winds in your exposure data. The enhancement also supports export of those codes. The new sub-peril codes are stored in the database. However, in Touchstone 2021 the AIR Severe Thunderstorm Model for the United States will only recognize the main severe thunderstorm peril within an exposure and will not recognize the new sub-perils. Full functionality will be available with the update to the model in 2022.

  • Non-catastrophe peril detailed loss analyses: Support is no longer available in Touchstone. Therefore, non-catastrophe peril analysis will no longer be available as a separately licensable analysis type. Touchstone still supports the ‘NC’ peril code in the exposure management and Geospatial modules.

  • ACORD Import: The option is no longer available in Touchstone.

  • Location-level event intensity data: Location-level event intensity data has been updated to match the updates to the AIR Typhoon Model for Japan and the AIR Earthquake Model for Japan.

More Information

The Scope of Model and Software Updates, available on the AIR Client Portal, provides high-level information about model updates and updates to the AIR Industry Exposure Database. You may also find the Update to Touchstone Loss Estimates version Technical Update, available on the portal, helpful in understanding the effect of model changes on loss estimates.