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Boston, MA - May 09, 2013 RMS today announced it is opening RMS(one)™, the company’s resilient, real-time exposure and risk management environment purpose-built for insurance companies to manage all of their risk models, exposures and analytics on a single, open platform, to third-party catastrophe model providers which will enable insurers and reinsurers to operationalize a much broader range of models than ever before.

With RMS(one), companies will be able to operate RMS, third-party, and their own proprietary catastrophe models for the first time in a single environment, enabling them to build a deeper and more complete view of their risk. The first three partners that will implement models on RMS(one)are ERNJBA Risk Management, and Risk Frontiers.

ERN provides models for earthquake and other perils throughout Latin America; JBA Risk Management is particularly known for its flood models and Risk Frontiers is an independent research center specializing in Australia and Asia-Pacific natural hazard risks.

"Being a partner on RMS(one) is of enormous benefit to both our clients and those of RMS," said John McAneney, managing director of Risk Frontiers. "Running our models alongside RMS and others in a single platform significantly reduces the complexity of deployment for companies and provides them with a much richer picture of risk."

Aspen Re CEO, James Few, adds, "We welcome RMS opening up RMS(one) to other modeling firms. As an industry, we need to access catastrophe models from multiple providers to develop a more complete and rigorous understanding of risk, resulting in greater depth of insight into our exposures. However, the practical costs and constraints associated with running multiple modeling systems are a major obstacle. Aspen has long recognized the importance of catastrophe risk assessment and the need to evaluate and understand multiple perspectives. As a client of both RMS and Risk Frontiers, and as a user of JBA data, we will realize significant operational benefits from the ability to run these models seamlessly alongside each other. We would welcome more organizations also making their models available on RMS(one)."

The partnerships will provide RMS clients with access to new modeling capabilities – including Mexico hurricane from ERN, Thai flood from JBA Risk Management, and Australia flood and bushfire from Risk Frontiers – as well as offering alternative views of risk where RMS has existing models.

"We're thrilled to welcome ERN, JBA, and Risk Frontiers as our first partners in the RMS(one) ecosystem. Our collaboration directly addresses a critical need of many of our clients as they continue to expand the breadth and sophistication of their catastrophe risk management practices, and we look forward to announcing additional partners in the future," commented Paul VanderMarck, chief products officer at RMS.

ERN is the leading natural risk modelling firm in Latin America, providing software and services to the insurance and reinsurance sectors, as well as to Governments and other institutions responsible for financial protection of buildings and infrastructure. ERN, founded in 1996 and based on Mexico City, has developed models for several perils and several countries in its region of interest. ERN's staff of more than 40 is regarded as the most knowledgeable and professional group of risk-related experts in Latin America.

JBA Risk Management is a leading provider of natural hazard modelling services for the insurance and reinsurance industry. JBA people are experts in their field and have great ideas which they deliver through exceptional technical expertise. JBA Risk Management provides security through knowledge, helping clients to understand and manage risks from natural hazards.

Risk Frontiers is an independent research centre sponsored by the insurance industry to aid better understanding and pricing of natural hazard risks in the Asia-Pacific region. It was founded in 1994 to service the specialized needs of its sponsors in the local insurance and international reinsurance markets. Its aims were to: undertake risk assessment and research into natural hazards; develop databases of natural hazards and their impacts on communities and insured assets, and develop loss models to improve the pricing of natural hazard catastrophe risks. These activities remain the core business of Risk Frontiers today, although it now undertakes studies on a much wider range of risk-related problems and for a client base that extends well beyond the insurance sector. It is the preferred provider of research to the NSW State Emergency Service and works with various government agencies and a number of corporate and utility organizations on risk-related issues. Visit www.riskfrontiers.com

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March 22, 2021
RMS Launches New Climate Change Models

Newark, CA – March 22, 2021 – RMS, the world’s leading catastrophe risk solutions company, today announced the forthcoming launch of a new suite of Climate Change Models to help customers assess the near and long term impacts of climate change on physical assets and their businesses, in order to make the best possible risk and financial decisions.   According to RMS CEO, Karen White, “Today there are no robust or consistent frameworks that can quantify the physical risks posed by catastrophes in a changing climate at the depth required.  The innovative suite of RMS Climate Change Models changes that, giving the market a powerful new set of tools. With increasing Board-level attention, stakeholder scrutiny, and regulatory pressure, businesses need to operationalize climate change analytics to make better decisions and enable better transparency. It is clear that the financial impacts of climate change are not solely a “future problem”. The increasing incidence of wildfires, floods and hurricanes mean that climate change insights need to be incorporated into financial decisions that are being made today, in parallel with long term strategic planning and meeting increasing regulatory, environmental, social and governance (ESG) and TCFD reporting requirements, and investor and customer demands. This necessitates a climate change framework and models fully consistent with today’s catastrophe risk analytics and one which addresses the challenges posed by physical climate change risk and its broad impact across all relevant time scales – from today through to the end of the century.” Most RMS models, including all major peril models, already incorporate the impact of climate change up until now – but more is required to meet the evolving and significant market needs. The new RMS Climate Change Models take our existing capabilities further with forward-looking predictive insights and analysis. The new Climate Change Models empower RMS’s economic modeling framework with the best climate science consensus, including from the Intergovernmental Panel on Climate Change (IPCC).  The new models will be generally available in June for major peril models North Atlantic Hurricane, Europe Inland Flood and Europe Windstorm. Further models and geographies will follow this initial model suite launch. The RMS climate change solutions also include climate change specialist advisory and consulting expertise and regulatory, ESG and TCFD support.   The Climate Change Models address the perils most impacted by climate change and feature: Probabilistic modeling to capture events across different climate change scenarios The ability to adjust time horizons and Representative Concentration Pathways (RCPs) A proprietary industry and economic exposure database to deliver more accurate and impactful climate change models Embeddable software which integrates into existing workflows to facilitate seamless and easy operationalization  Consulting and additional expertise supporting regulatory submissions and activities, and providing insights from these new models today   Commenting on the RMS climate change solutions, Eric Letourneau, SVP, Group Head of CAT Accumulation Management, QBE, said: “The insights on climate risk provided by RMS have enabled us to better understand climate-related risks and opportunities for our business, to report those insights to financial stakeholders, and to develop and test strategy for our business. We can embed these analytics in our business processes, confident that we have consistency with how we measure underwriting risk and capital requirements now and in the future.” The new RMS Climate Change Models, data, and analytics empower organizations to: Understand the impacts climate change may have on capital and assets today and in the future Price and manage risks to better reflect changing conditions Confidently communicate risks posed by climate change to all stakeholders Comply with regulatory submissions in an efficient and sustainable way RMS has been modeling natural catastrophe risk for the insurance industry for more than 30 years and has been leading research into the impact of climate change on catastrophic losses since RMS’s involvement in the 2007 4th IPCC Assessment Report.   You can learn more about RMS Climate Change solutions here:   https://www.rms.com/climate-change  

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March 17, 2021
TigerRisk Strengthens Global View of Catastrophe Risk With Next-Generation RMS High-Definition Models

NEWARK, Calif. – March 17, 2021 – RMS®, the world’s leading catastrophe risk solutions company, and TigerRisk Partners, the leading risk, capital, and strategic advisor to the global insurance and reinsurance industry, today announced the expansion of their partnership to include additional models and data in a new multiyear agreement. With this agreement, TigerRisk can now access the full RMS global natural catastrophe risk models suite. This includes RMS High Definition Models™ such as the RMS North America Wildfire HD Models, RMS Europe Flood HD Models, and RMS Europe Severe Convective Storm HD Models. This complements TigerRisk’s longstanding implementation of the RMS natural catastrophe view of risk in the U.S. on RMS RiskLink®. “We are committed to providing our clients with best-in-class solutions as they navigate this volatile risk landscape,” said Rod Fox, chief executive officer of TigerRisk. “Our clients depend on us to help them maintain a competitive edge, and it’s important we work alongside organizations that can help us support their needs. Our expanded partnership with RMS  ensures that we can increase the value we bring to our clients and continue to deliver solutions for managing global risk profitably.” Karen White, chief executive officer of RMS, said, “TigerRisk Partners has established themselves as an innovative reinsurance broker and capital advisor firm in the market. As a valued partner of RMS for over a decade, their investment in analytics aimed at providing the best insights and services for their clients mirrors our commitment to the market. We look forward to continuing to support TigerRisk with the most trusted view of risk in the industry as they grow their business and enhance their services.”

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December 15, 2020
RMS Estimates that Total Insured Losses from the 2020 Western U.S. Wildfires Will Be Between US$7bn – US$13bn

Newark, CA – December 15, 2020 – RMS, the world’s leading catastrophe risk solutions company, estimates insured losses from the record-breaking western U.S. wildfires this season will be between US$7.0 and US$13.0 billion. These losses reflect estimates as of December 1, 2020 and represent an update from the previously estimated losses from fires up to September 20, 2020. The ignition of the highly damaging Glass Fire and additional spread of the CZU and LNU Complex Fires represent the most notable activity in California since September 20. RMS insured losses represent estimates from major wildfires in California, Oregon, Washington, and Colorado at December 1, 2020: Region Insured Losses (USD $ bn) as of 1 December, 2020 Northern California Oregon and Washington Colorado 5.0 - 9.0 1.0 - 3.0 Up to 1.0 The RMS estimate includes losses from property damage, including evacuation and smoke damage, business interruption (BI), and additional living expenses (ALE) across residential, commercial, and industrial lines. Smoke and evacuation are expected to be significant contributors to losses for the wildfires this season, contributing about 20 percent of losses in California and Colorado and about 35 percent in Oregon and Washington. The estimate also accounts for notable post-event loss amplification (PLA) from property damage (25 to 30 percent) and business interruption/ALE (up to 100 percent or greater). 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Five of the six largest ever California wildfires have occurred in 2020, with over 4.4 million acres burned in total to date. While fires earlier in the season were dominated by ignitions sparked by the intense lightning storm in August, extreme wind-driven fires dominated the last few months. A similar phenomenon resulted in record-breaking fires in Oregon as well this season, with over 20 major fires driven by extreme winds, burning more than 1.2 million acres so far. In October, Colorado experienced its three largest destructive fires with more than 24 major fires burning 850,000 acres in total. Rajkiran Vojjala, Vice President, Model Development said: “This wildfire season reaffirms the growing catastrophic nature of this peril. Wildfire risk is clearly evolving, not only in California, but also in other states, as we observed in Oregon and Colorado. 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As with any model of physical systems, particularly those with low frequencies of occurrence and potentially high severity outcomes, the actual losses from catastrophic events may differ from the results of simulation analyses. RMS SPECIFICALLY DISCLAIMS ANY AND ALL RESPONSIBILITIES, OBLIGATIONS AND LIABILITY WITH RESPECT TO ANY DECISIONS OR ADVICE MADE OR GIVEN AS A RESULT OF THE INFORMATION OR USE THEREOF, INCLUDING ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, WARRANTIES OF NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL RMS (OR ITS PARENT, SUBSIDIARY, OR OTHER AFFILIATED COMPANIES) BE LIABLE FOR DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES WITH RESPECT TO ANY DECISIONS OR ADVICE MADE OR GIVEN AS A RESULT OF THE CONTENTS OF THIS INFORMATION OR USE THEREOF.

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About RMS

Risk Management Solutions, Inc. (RMS) shapes the world’s view of risk for insurers, reinsurers, financial services organizations, and the public sector. We empower organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

RMS helped pioneer the catastrophe risk industry, and continues to lead in innovation by offering unmatched science, technology, and 300+ catastrophe risk models. Leaders across multiple industries can address the risks of tomorrow with RMS Risk Intelligence™ (RI), our open, unified cloud platform for global risk, which enables them to tap into RMS HD models, rich data layers, intuitive applications, and APIs.

Further supporting the industry's transition to modern risk management, RMS spearheaded the Risk Data Open Standard (RDOS), a new modern open standard data schema designed to be an extensible, flexible, and future-proof asset within modeling/analysis systems.

RMS is a trusted solutions partner, enabling effective risk management for better business decision-making across risk identification and selection, mitigation, underwriting, and portfolio management.

Visit RMS.com to learn more and follow us on LinkedIn and Twitter.

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