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NEWARK, Calif. - February 02, 2015 RMS, the world’s leading catastrophe risk management firm, today announced a technical collaboration with Fubon Insurance Co Ltd, Taiwan's first privately-run property insurer and the first member of the Fubon Group, to share access to industry information, as well as deep insight into the local Taiwanese insurance market. The sharing of information and methodologies between the two companies will allow RMS to develop a better understanding of typhoon risk in Taiwan.

Typhoon risk in Taiwan is a very real threat to the region, with an average of five storms a year with peak gusts in excess of 74 miles per hour, the equivalent of a category 1 on the Saffir-Simpson scale. High atmospheric moisture content and precipitation rates due to the warm tropical Pacific Ocean also make flooding a frequent occurrence, further driving the risk profile.

“We are committed to working toward a fuller understanding of typhoon risk in Taiwan and are pleased to work with RMS as a technical partner throughout the Taiwan Typhoon model development process,” said Victor Kung, chairman of Fubon Insurance. “Greater understanding allows us to better mitigate and manage risk.”

The collaboration will include regular technical exchanges between RMS and Fubon Insurance to share methodologies and information, and help RMS understand local market conditions such as business, claims and building practices. This allows RMS to build a more robust model based on the best expertise and experience available in the market and deliver a state-of-the-art, well-calibrated high-definition typhoon model to the industry. Fubon Insurance will receive early insight into methodologies and the opportunity to continuously enhance the capability in evaluation and management of typhoon and flooding risks throughout the development process.

“Through the sharing of information, Fubon Insurance and RMS ensure the best science and data are incorporated into RMS’s Taiwan Typhoon model,” said Jessica Turner, director of model product management, RMS. “The collaboration underscores a commitment from both companies to develop a greater understanding of risk to manage it effectively.”  

RMS is developing a High-Definition Taiwan Typhoon model, which will include inland and coastal flooding components. This release will form part of the Asia Typhoon model, which is being built on a basin-wide event set.

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About RMS

Risk Management Solutions, Inc. (RMS) helps insurers, financial markets, corporations, and public agencies evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

RMS leads the catastrophe risk industry that we helped to pioneer by marrying data and advanced model science with leading-edge technology. Leaders across multiple industries can address the risks of tomorrow through RMS Risk Intelligence™, our open, real-time exposure and risk management platform, enabling them to tap into RMS HD models, rich data layers, intuitive applications and APIs that simply integrate into existing enterprise systems.

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Media Contacts

Matthew Longbottom

PR Lead, EU and APAC
+44 20 7444 7706 prteam@rms.com

Devonne Cusi

PR Lead, Americas
+1 551 226 1604 prteam@rms.com
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