22:30 UTC Wednesday, September 6
Sam Gibson, director – Consulting, RMS
With Irma moving swiftly through the Caribbean as a Category 5 hurricane, currently producing sustained winds around 185 miles per hour (297 kilometres per hour), concern is building as to the potential impacts of another major hurricane landfalling in the U.S. Although Irma’s actual path as it approaches Florida is very uncertain, there are analytical techniques available to help gain insight into the range of potential damage.
The RMS Cat in a Box (CIAB) application is designed for the assessment of parametric contracts, and can evaluate the probability of storms intersecting a specific geographic region whilst having certain severity characteristics. The application will output the list of events which intersect these areas and produce the associated Exceedance Probability (EP) curve.