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NEWARK, Calif. - July 02, 2015 RMS, the world’s leading catastrophe risk management firm, today announced that version 15.0 of its RMS® North Atlantic Hurricane Models has been certified by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) for use in residential rate filings with the Florida Office of Insurance Regulation. Certification for the hurricane models was provided on June 30, 2015, and is valid until September 2017.

“Certification by the Florida Commission validates the technical integrity of the science, engineering, actuarial methodology and software of our North Atlantic Hurricane Models, and is an important milestone in both the development and usage of the models,” said Michael Young, senior director, model product management.

RMS released version 15.0 of its North Atlantic Hurricane Models in March this year. The models include updates to the long-term rate set to comply with current HURDAT data, a new medium-term rate forecast for 2014-2018, updated satellite imagery for Florida to capture recent land-use changes and updates to vulnerability across several lines of business and regions.

The version 15.0 models also include improved coastline definitions to support wind-related underwriting, and new functionality to manage coastal flood risk following an analysis of nearly $3 billion in claims data from Hurricane Irene (2011) and Superstorm Sandy (2012). The new surge modeling capabilities enable quantification of flood loss based on the total value of contents stored in basements and number of basement levels in a building. Location-specific content triggers for business interruption losses are also now included.

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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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