Reinsurance News
risk modeller
CoreLogic and Vexcel Imaging collaborate to provide enhanced visualisation
27th January 2025
Catastrophe risk modeller CoreLogic has entered a strategic alliance with Vexcel Imaging, a global leader in aerial imagery to get access to aerial imagery from the US, Canada, Western Europe and Australia, including post-disaster (Gray Sky) imagery captured after wildfires, hurricanes and tornadoes. This imagery is part of CoreLogic’s broader roadmap ... Read the full article
Moody’s RMS puts Japan earthquake insured loss at $3bn – $6bn
12th January 2024
Catastrophe risk modeller Moody's RMS estimates that the total insurance industry loss from the magnitude 7.5 earthquake that struck Japan on New Year's Day will likely fall between $3 billion and $6 billion. This estimate from Moody's RMS is based on analysis of the devastating quake using the risk modellers Japan ... Read the full article
Important to acknowledge warmer than average SSTs this hurricane season: Waters, Moody’s RMS
7th June 2023
With warmer than average sea surface temperatures (SSTs) expected close to the coast, there’s a chance storms could develop and make landfall very quickly, warns Jeff Waters, a meteorologist at Moody’s RMS. Waters has been the Product Owner for the RMS North Atlantic Hurricane models since 2018, ... Read the full article
We really need to understand what cyber insurance is: Matt Harrison, Moody’s RMS interview
3rd May 2023
As the cyber insurance and reinsurance market continues to develop and expand, with the risk also growing in popularity within the insurance-linked securities (ILS) space, Matt Harrison, Director of Product Management for Cyber at Moody’s RMS, highlights the importance of understanding exactly what cyber insurance is. Read the full article
Earthquakes to drive insured losses of $2.4 billion in Turkey, says KCC
16th February 2023
Total property insurance and reinsurance industry losses from the dual Kahramanmaras, Turkey earthquakes are estimated at $2.4 billion, with economic losses pegged at close to $20 billion, according to Karen Clark & Company (KCC). These estimates do not include losses within Syria, and are based on the KCC Turkey Earthquake Reference ... Read the full article
Industry should “absolutely” move to less model dependency, says Amwins’ Bernacki
24th January 2023
Given the continued ‘model miss’ of the recent catastrophes, Mark Bernacki, Chief Underwriting Officer of Amwins, has suggested that the industry should “absolutely” move to less model dependency. In his interview with Reinsurance News, Bernacki gave a definitive “yes”, when asked whether it was time to move on, citing the increased ... Read the full article
Reinsurers collaborate on new data standards for risk modelling
23rd January 2023
Reinsurers RenaissanceRe, SCOR, Hannover Re and Swiss Re have come together with broking firm Aon to lead the implementation of the Open Exposure Data (OED) Standard curated by Oasis for the risk modelling of property reinsurance placements. The OED Standard is a non-commercial venture that aims to provide a more effective ... Read the full article
Skyfora updates Tropical Storm Seasonal Forecast model
5th April 2022
Skyfora has updated its Tropical Storm Seasonal Forecast model, a solution which provides probabilistic predictions for the likelihood of various events in different categories for the upcoming tropical cyclone season. The categories consist of tropical cyclone (TC) intensity, TC genesis by region, and TC landfall by region. In addition to pre-season forecasts ... Read the full article
Hurricane Ida to drive insured losses of close to $18bn, says KCC
1st September 2021
Analysis by catastrophe risk modeller Karen Clark & Company (KCC) estimates that the insurance and reinsurance industry loss from Hurricane Ida will near $18 billion, the large majority of which is attributable to wind and storm surge losses in the U.S. This industry loss estimate from KCC includes privately insured damage ... Read the full article
RMS being offered for sale by owner DMGT
12th July 2021
RMS, one of the leading catastrophe risk modelling companies serving the insurance and reinsurance industry, is being offered for sale by its ultimate owner DMGT (Daily Mail and General Trust plc). DMGT said this morning in announcing a possible reorganisation and acquisition of all of its shares by its main holder, ... Read the full article
Hurricane risk landscape is becoming more complex: RMS
3rd June 2021
RMS' latest update to its North Atlantic hurricane model continues to evolve the science of hurricane risk modelling, as the changing climate, growing exposures and changing market conditions drive an increasingly complex risk landscape, according to Jeff Waters and Ben Brookes. The latest in our sister publication Artemis' series ... Read the full article
RMS announces new innovations to ExposureIQ platform
11th May 2021
Catastrophe risk modelling and solutions company RMS has announced new innovations to its Risk Intelligence platform, ExposureIQ. ExposureIQ is a cloud-based exposure management application designed to help portfolio managers gain insights into their books, scaling to millions of locations, enabling discovery of hotspots, diversification, and portfolio re-balancing. The application provides access to ... Read the full article
AbsoluteClimo upgrades global risk models
18th November 2020
AbsoluteClimo has announced an enhanced version of its global risk models GOTCHA and ClimoCats, both of which are linked to climate physics and machine learning predictions. The enhancements include upgraded machine learning and AI tools, wider tail risk probability forecasts, differential and departure forecasts, and a new global pandemic climate-epidemiology prediction ... Read the full article
CoreLogic’s Q2 organic revenue up 5% as firm sees $15mn COVID-19 impact
24th July 2020
Risk modelling firm CoreLogic has announced a 4% increase in reported revenues to $477 million in the second-quarter of 2020, and organic revenue growth of roughly 5%, up over 2% from the previous quarter. CoreLogic states that revenues were actually up by 15% once normalised for $28 million of second-quarter 2019 ... Read the full article
Storm Ciara insured loss estimated at up to €1.8bn by RMS
14th February 2020
Catastrophe risk modeller RMS has estimated that the insurance industry loss from windstorm Ciara, also known as windstorm Sabine, will likely range between €1.1 billion (USD 1.2 billion) and €1.8 billion (USD 1.95 billion). The RMS loss estimate for storm Ciara, which struck parts of Ireland and the UK on Sunday ... Read the full article
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