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2010 RMS Client Conference Registration is Now Open RMS is hosting the 2010 RMS Client Conference at the Doral Resort & Spa in Miami, Florida. RMS is pleased to invite you to our 2010 Client Conference taking place in Miami, Florida at The Doral Resort & Spa on Tuesday, April 27, 2010 - Friday, April 30, 2010. The conference will open with the welcome reception on the evening of Tuesday, April 27. Conference sessions will commence Wednesday, April 28 and the conference will conclude mid-day Friday, April 30. Don't miss the opportunity to gain insight on major advancements in the science of catastrophe modeling.
RMS Climate Change Research and the IPCC Recently, RMS research and its use in a report by the Intergovernmental Panel on Climate Change (IPCC) has been the focus of a number of media articles. RMS has prepared a set of frequently asked questions to clarify a number of issues related to the IPCC report, and the linkage between climate change and disaster losses.
First Parametric Industry Loss Index Developed for U.S. Earthquake Risks A new parametric index was released by RMS for estimating insured industry losses from U.S. earthquakes, complementing its existing suite of indices for U.S. hurricanes and Europe windstorms. Paradex U.S. Earthquake combines ground shaking data from U.S. Geological Survey (USGS) ShakeMaps with industry exposure data to calculate insured loss estimates, which can be used to structure and monitor catastrophe bonds, industry loss warranties, and derivative contracts.
RMS Performs Analysis for Catastrophe Bond Covering H1N1 Flu Pandemic RMS has conducted the expert risk analysis for an innovative new catastrophe bond providing Swiss Reinsurance Company Ltd with $75 million of coverage against higher-than-expected mortality rates in the U.S. and U.K. until the end of 2013. This is the first time an excess mortality securitization has been structured using a probabilistic catastrophe model rather than simply relying on historical data and is unique in covering an existing event ― the H1N1 flu pandemic ― that already poses an insurance risk.
Haiti Earthquake Magnitude 7.0 A shallow, powerful, moment magnitude 7.0 earthquake struck south Haiti, 10 miles from the capital city of Port-Au-Prince on Tuesday, 12 January. The event was most likely a strike-slip on the Enriquillo Fault, which the USGS estimates occurred at a depth of 6 miles. At least three aftershocks greater than magnitude 5.0 occurred in the hours immediately following the main shock. There are initial reports of widespread damage and thousands of fatalities in Haiti. “Around Port-au-Prince there’s a striking contrast of high-end properties and shanty housing extending up the hillsides, with no building regulations in force to protect against earthquake damage,” said Neena Saith, senior catastrophe response manager at RMS.
RMS' Hemant Shah Named to List of the 100 Most Powerful People in the Insurance Industry, North America 2009 Insurance Broadcasting, in conjunction with the Insurance Media Association, has released its seventh annual list of the "100 Most Powerful People in the Insurance Industry, North America." Hemant Shah, CEO of RMS, was chosen as the most powerful person in risk modeling for the year 2009.
ILS Market Set for Busy 2010 After Record Fourth Quarter The insurance-linked securities (ILS) market announced that RMS conducted the expert risk analysis for 70 percent of the catastrophe bonds modeled during the fourth quarter of 2009. While the second quarter of the year has traditionally been the most active as companies seek coverage before the start of the hurricane season, favorable pricing in the second half of 2009 led more companies to choose ILS as an alternative to reinsurance before the January 1 renewals.
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