Five Steps to Streamline Climate-Related Physical Risk Disclosures
Matthew Kahn explores the near and long-term impacts of climate change on businesses, the insurance industry, and global markets
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For over 20 years, RMS has helped our clients improve their climate-related catastrophic risk outlook and build a more sustainable portfolio.
Explore the latest scientific understanding of the effects of climate change on flood risk in Europe
For more than 20 years, RMS has worked with partners and stakeholders to understand how climate change affects perils and regions around the globe and to progress toward solutions that quantify the physical risk of climate change. Building a more resilient world is the essence of the RMS mission. By demystifying the risks of climate change, we are committed to helping organizations of every type factor these consideration into their strategic outlook with Climate Change Models, data, and analytics.
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Demonstrate your understanding of climate change impacts for your investors and rating agencies with climate risk modeling insights. Simplify reporting for new and emerging risk profiles, stress tests, and climate-related regulation.
Understand vulnerability to your supply chain and mitigate risk of future disruption as increasing severity of regional extreme weather events can now disrupt entire global logistics networks.
Grow your business by understanding the complex relationship between greenhouse gas emissions and extreme weather events. Leverage climate change risk modeling for new growth opportunities.
Make better real estate decisions by using climate risk modeling to understand the impact of climate change on long-term asset depreciation and identify strategies to enable reductions in risk.
RMS uses historical climate data, including precipitation, sea levels, weather patterns, impact on coastlines, and storm intensities and frequency to inform our leading-edge stochastic modeling. Find out how others have partnered with RMS to respond to the growing risk of climate change.
For over 20 years, RMS has developed strong, long-standing partnerships with a wide range of organizations around the world. We are committed to contributing our risk modeling expertise to help the market better understand the physical risk caused by climate change. Learn about our extensive experience and contributions to this ongoing conversation since 2001.
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2021
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RMS Launches New Climate Change Models
Bank of England PRA Stress Test
2020
European Flood and Climate Change
2019
NGFS Climate Scenarios Database
PRA’s General Insurance Stress Test
2018
Stress Test for Drought
PRA Working Group on Climate Change
2017
TCFD Final Report
Climate Change Economic Damage Report
2016
Coastal Wetlands and Flood Damage Reduction Report
2015
RE.bound Program Develops New Resilience Bond
2014
IPCC Fifth Assessment Report
Risky Business Report
Lloyd’s Publishes Catastrophe Modeling and Climate Change
2008
RMS Joins the Resilient Coasts Initiative
Lloyd’s Report: Coastal Communities and Climate Change
2007
IPCC Fourth Assessment Report
2006
RMS Establishes Climate Change Team
RMS Introduces Medium-Term Rates
2001
IPCC Third Assessment Report
Responsible organizations want to know their exposure to climate change risk. There is an urgent need to assess and quantify the extent of the rising physical risk caused by climate change – how much it has already changed, what will happen in the future, and how such risks are being priced. With stakeholders such as regulators, investors, and customers, all requiring answers, RMS can help. Our climate change risk analytics practice helps clients translate climate change science into a competitive advantage with regulatory and business consulting services.
The effects of climate change aren’t just reshaping our physical world. They are also disrupting the market in profound ways. Our new Climate Change Models extend our industry-leading, comprehensive catastrophe models to empower you to address the near- and long-term challenges posed by climate change.
The insurance industry is getting familiar with the brave new world of climate change metrics. Regulators and stakeholders are asking questions about the impacts of climate change in terms of increased losses on their portfolios – be it insured losses or reductions in asset values. From the U.K. Prudential Regulation Authority (PRA) Climate Biennial Exploratory Scenario (CBES) to the Task Force for Climate-Related Financial Disclosures (TCFD), (re)insurers are…
Newark, Calif. – May 5, 2021 – RMS, the world’s leading catastrophe risk modeling and solutions company, revealed that according to its new Climate Change Models, and based on today’s exposures, insured average annual losses (AAL) from North Atlantic Hurricane wind could increase by as much as 24 percent by 2050*, and European Flood risk AAL could increase by up to 59 percent by 2050**, based on no mitigating factors taken. The new RMS Climate Change Models…
Watch Joss Matthewman’s presentation at this years RAA event, Cat Risk Management 2021. Of the $1.42 trillion in losses from larger events due to climate perils over the last 30 years, 41% have occurred in the last five. Despite recognizing climate change risk, (re)insurers still struggle with how to properly adapt their business models to this new reality. See how RMS has incorporated the latest scientific climate change research into its catastrophe…
For everyone working in risk management, there is an implicit understanding about the wider mission underlining our work: to help create a more resilient world. But we are trying to build resilience in an era when assessing the physical impacts of climate change has become more challenging. With increasing board-level attention, stakeholder scrutiny, and regulatory pressure, businesses everywhere are struggling to understand the impacts of climate change and…
The findings of the Fifth Assessment Report (AR5) from the Intergovernmental Panel on Climate Change (IPCC), finalized in 2014, were clear: Human behavior is affecting climate change. The occurrence of extreme climate-related catastrophic events, such as the recent record-breaking wildfire seasons in California (2020) and Australia (2019–20), are reminders of the present-day threat to society from climate volatility. So how can we quantify the many projected…
The Bank of England’s Climate Biennial Exploratory Scenario (CBES) exercise launches in June, with submissions required by the end of September 2021. Less than four months remain until the official launch, so the Bank of England (BoE) is engaging early with invited insurers and banks to ensure they understand the direction and scope of the assessment. Announced in December 2019, the BoE’s stated objective for the CBES is “to test the resilience of the current…
For almost all of us, COVID-19 represented our first experience of a rapidly growing exponential harm. Back in late January 2020, the scariest harbinger of the advancing pandemic was that the numbers of infected and dying were doubling, unremittingly, every three or four days. Projecting out a month or two, without any intervention, fatalities were set to rise into the hundreds of thousands. Everyone has become familiar with the regularly published “R”…
The World Economic Forum (WEF) has celebrated its 50th year at its annual meeting in Davos. Increasingly the business/political nexus has become that articulated in WEF founder Klaus Schwab’s Davos Manifesto, that corporations “… must assume the role of a trustee of the material universe for future generations.” In 2020, “action on climate change” has now become the number one risk in terms of impact in the World Economic Forum’s Global Risk…
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