RMS updates European Windstorm and Atlantic Hurricane models
New risk models for European windstorms and North Atlantic hurricanes have been released by RMS, offering insurance, reinsurance and ILS market users the ability to make enhanced risk selection and portfolio management decisions, reports Artemis.
Matthew Grant, General Manager, models and data at RMS said; “RMS’s version 15.0 models deliver even sharper risk differentiation to help our clients further optimize their risk selection and more efficiently allocate capital.” He added, “We’ve built on the models’ existing methodology and incorporated several years of new data and scientific research to deliver the most accurate representation of the risk.”
With AIR Worldwide and Aon Benfield both estimating insured industry losses from the event will likely exceed $1 billion.