Better understand your marine cargo and specie risks using a modeling framework designed for the marine market’s needs.
Enhanced Data Schema
Explicitly model coverages, adjustments for mobility, and 2,000+ combinations of products, storage, and packaging types in one solution.
Port Industry Exposure
Quantify exposure risk associated with up to 185 ports across 45 countries worldwide using Global Port Industry Exposure Databases (IEDs).
Global Port Shapefiles
Utilize high-resolution shapefiles for important global areas of exposure accumulation.
Adjust the time at risk for cargo exposure to reflect that, unlike buildings and their contents, cargo is not at risk throughout the year.
Hurricane Harvey: Impact on Marine Cargo
Chris Folkman, director – Product Management, RMS Rajkiran Vojjala, vice president – Modeling, RMS As Hurricane Harvey barreled eastward from Houston, Port of Houston officials spoke of restarting operations by Labor Day (Monday, September 4) after its channels are checked for shoaling and obstructions. The eighth busiest container port in the U.S. reported no major damage to its terminals, warehouses or storage facilities, and traffic was diverted to…
No More Guessing Games for Marine Insurers
Huge ports mean huge amounts of cargo. Huge amounts of cargo mean huge accumulations of risk. As a guiding principle about where marine insurers are exposed to the highest potential losses, it seems reasonable enough. But in fact, as RMS research has proven this week, this proposition may be a bit misleading. Surprisingly, a port’s size and its catastrophe loss potential are not strongly correlated. Take the Port of Plaquemines, LA which is just south…
Tianjin Is a Wake-Up Call for The Marine Industry
“Unacceptable” “Poor” “Failed” Such was the assessment of Ed Noonan, Chairman and CEO of Validus Holdings, on the state of marine cargo modeling, according to a recent report in Insurance Day. China Stringer Network/Reuters The pointed criticism came in the wake of the August 12, 2015 explosions at the Port of Tianjin, which caused an estimated $1.6 – $3.3 billion in cargo damages. It was the second time in three years that the…
RMS Analysis Reveals the Ten World Ports at Risk of Highest Insurance Loss Due to Catastrophe
NEWARK, Calif. - August 08, 2016 RMS, the world’s leading catastrophe risk management firm, has analyzed the catastrophe risk of the world’s ports and ranked the top ten for greatest potential loss. The analysis shows that while the riskiest two ports are in Japan (Nagoya — $2.3 billion) and China (Guangzhou — $2 billion), six of the top ten riskiest ports are in the U.S., with the remaining two in Europe. Surprisingly, it is not just the biggest container…
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