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NEWARK, Calif - March 11, 2015 RMS, the world’s leading catastrophe risk management firm, today announced that Chaucer Syndicates Limited has licensed the full suite of RMS® Canada and U.S. severe convective storm models to boost its severe storm risk management capabilities.

“The complexities inherent in severe convective storms require a thorough understanding of the peril to develop a comprehensive view of the risk,” said Nick Barter, group head of catastrophe risk at Chaucer Syndicates Limited. “The granularity of the hazard module included in RMS’ severe convective storm models gives us much deeper insight into the drivers of the risk, both for direct and treaty business.”

RMS updated its U.S. and Canada severe convective storm models in January 2014 to provide new views of the risk calibrated with the results of an extensive analysis into location-level claims and exposure data, as well as thousands of hail and wind observations and radar images from more than 70 new events that occurred in the past five years.

“Severe convective storm is a material risk to the industry and companies are increasingly licensing RMS models to gain a view into the full spectrum of possible impacts,” said Steve Hurcom, head of European sales at RMS. “We've updated our models to incorporate new insights into the spatial nature of hail and tornado events for a more accurate view of the risk. We've also added more than 400 new unique vulnerability curves to view, price and underwrite the risk with more confidence and granularity than ever before."

The severe convective storm models use a unique hybrid methodology that combines the strengths of numerical and statistical modeling techniques with historical data and claims calibration to fill in information gaps and manage the biases that are associated with incomplete historical data records. This enables model users to evaluate the potential future losses in regions where they have not yet sustained losses to inform their company’s growth strategies and portfolio planning.

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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.

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

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

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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