The world’s leading catastrophe risk modeling and solutions company RMS today released a new model.
Dr. Mohsen Rahnama, Chief Risk Modeling Officer and Executive Vice President , said at the RMS Exceedance annual meeting: “Risks are becoming more and more complex and connections are getting closer. In this environment, RMS focuses on providing the industry with the highest quality and most transparency. , The most powerful catastrophe model.
Through the new inland flood model and the global flood disaster map, we have solved a series of important regional problems. Floods in these areas are the most important risk factor, and now cover 100% of the global floods Premium. The major update of the RMS North Atlantic Hurricane Model incorporates the latest scientific knowledge and applies the results of learning since 2017.”
Global flood coverage rate
The main flood disaster models and maps released today on Exceedance 2021 include:
- China ‘s new inland flood disaster model will be released in June 2021, and will also be released on RiskLink version 21.0 and Risk Modeler (RMS model execution and analysis cloud platform).
- New inland flood models for New Zealand and Southeast Asia (Thailand, Singapore, Malaysia and Indonesia) will be released in the second half of 2021.
- Global flood disaster maps of more than 200 countries will also be released in the second half of 2021.
After this massive expansion, the RMS Global Flood Solution Suite now provides unparalleled high-resolution flood model coverage and a unified method to manage all global flood risks. These models and maps cover all flood insurance premiums in the total global property premiums.
North Atlantic hurricane
RMS also announced a major update to the industry-leading North Atlantic Hurricane (NAHU) model. Version 21.0 of the North Atlantic Hurricane Model now covers the medium-term event rate, a summary of the experience of the 2017-2020 hurricane season, and a new alternative view of the vulnerability of the Florida residential line.
Importantly, RMS has added an alternative risk accounting point of view to the “Florida Building Code 25 percent Roof Replacement Rule” (Florida Building Code 25 percent Roof Replacement Rule), which applies from high-speed hurricane areas ( HVHZ) expanded to the entire state of Florida in the 2017 Florida Building Code. These critical updates enable customers to make more informed rate-setting decisions.
Other 2021 RMS models
- Canadian wildfire model RMS (RMS Canada Wildfire Model) has been added to RMS North America wildfires model kit (RMS North America Wildfire Models Suite) and user-oriented open. The Canada Wildfire model covers Canada from coast to coast. Like the RMS US Wildfire Model, the Canadian model also includes the ignition and spread of wildfires, ember footprints, smoke footprints, and urban fires, as well as a financial model that includes hours and distance provisions (to represent policy terms).
- Has been released RMS version 5.1 network solutions (RMS Cyber Solutions Version 5.1) includes a new instrument panel, for the insurer provides a powerful network analysis and underwriting rich data network covering events and threats.
RiskLink version 21.0
RiskLink 21.0 will be released in June 2021. All RiskLink models will be published simultaneously on RiskLink and Risk Modeler .