With a few weeks to go until the North Atlantic Basin enters its most active period, now is a good time to recap recent activity, review updated seasonal forecasts, and look ahead to what may be in store for the …
Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry’s understanding of these risks, according to a report published by RMS. “Secondary …
Insured losses from Hurricane Ida are now creeping into the $30 billion range after catastrophe modelers added damage to properties in the Northeast, putting the catastrophe on par with Hurricane Irma and Harvey in 2017 and Superstorm Sandy in 2012. …
RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion and €6.5 billion (US$6 billion and US$7.7 billion). …
Tristar Buys RMS Tristar Insurance Group, a privately owned third-party claims administrator based in Long Beach, Calif., has agreed to purchase Aspen Risk Management Group. Aspen, located in San Diego, provides remote ergonomics, online service platforms, and consulting services to …
Insured losses in the Caribbean from Hurricane Dorian is estimated at $3.5 billion to $6.5 billion, according to RMS, the risk modeling and analytics firm. This estimate represents insured losses associated with wind and storm surge damage across the Caribbean …
Changes in the path and intensity of Hurricane Florence are keeping forecasters, government officials and insurers on their toes. An update by AIR Worldwide yesterday indicated that storm surge heights of 9-13 feet could be expected. “Florence’s slow motion just …
RMS Releases New Japan Earthquake and Tsunami High Definition Model Global risk modeling and analytics firm RMS announced the release of its new Japan Earthquake and Tsunami High Definition (HD) model. RMS collaborated with local experts, scientific agencies and insurers …
RMS Appoints Silicon Valley Executive as CEO Global catastrophe risk modelling and analytics company, RMS, announced the appointment of Karen White as its new chief executive officer, replacing current CEO and co-founder Hemant Shah. White has served for more than …
Losses from the Thomas Fire in Southern California are expected to fall between $1 billion and $2.5 billion, a catastrophe modeling firm said on Tuesday. The Thomas Fire, which raged across Southern California’s Ventura and Santa Barbara counties throughout most …