Reinsurance News

RMS extending global risk views for acute & chronic perils

24th May 2022 - Author: Jack Willard

Risk modelling and solutions company RMS has announced that it will be launching new global views for acute and chronic perils and their climate change impact.

RMS logoThe company already offers a range of different regional peril and climate change models, which support detailed acute physical loss modelling products, as well as data products which cover hazard and risk scores, and loss costs for individual locations across multiple time horizons.

RMS’s newly announced global views will extend the company’s peril and climate change impact coverage to provide fully correlated global views of risk, and include event frequency and severity, and analysis for current baseline and future climate views.

The new global views also will not only deliver a view of risk for acute peril-specific risks, but also chronic risks such as drought, heat stress, water stress, and sea-level rise.

In addition, this global peril coverage will also enhance RMS’s applications on the Intelligent Risk Platform with the Risk Modeler, ExposureIQ, TreatyIQ and the newly launched UnderwriteIQ, applications delivering global insights in the future.

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“We are continuing to see growing demand for risk insights on acute and chronic perils and climate change, from investors and corporations across many industries such as banking, commercial real estate, and insurance”, said Michael Steel, General Manager, RMS.

“The effects of these risks will unfold over many years and will have many direct and indirect implications for both industry and society. We firmly believe that long-term strategies and decision making can only benefit from detailed and analytical insight into hazard and risk impacts for present and future climates.”

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