RMS News

RMS: Secondary Perils Responsible for Growing Share of Disaster Claims

Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry’s understanding of these risks, according to a report published by RMS. “Secondary …

Hurricane Ida Damage Projections Reaching the Scale of Irma, Harvey and Sandy

Insured losses from Hurricane Ida are now creeping into the $30 billion range after catastrophe modelers added damage to properties in the Northeast, putting the catastrophe on par with Hurricane Irma and Harvey in 2017 and Superstorm Sandy in 2012. …

RMS Says Insured Losses from European Floods Could Rise to $7.7 Billion

RMS, the Newark, Calif.-based catastrophe modeling company, estimates that insured losses from the Western and Central Europe flooding, which occurred between July 12 and 18, 2021, will likely range between €5 billion and €6.5 billion (US$6 billion and US$7.7 billion). …

Business News: Tristar, George Hills, RiskStream Collaborative, Verisk

Tristar Buys RMS Tristar Insurance Group, a privately owned third-party claims administrator based in Long Beach, Calif., has agreed to purchase Aspen Risk Management Group. Aspen, located in San Diego, provides remote ergonomics, online service platforms, and consulting services to …

Hurricane Dorian Insured Losses in Bahamas Could Hit $6.5 Billion: RMS

Insured losses in the Caribbean from Hurricane Dorian is estimated at $3.5 billion to $6.5 billion, according to RMS, the risk modeling and analytics firm. This estimate represents insured losses associated with wind and storm surge damage across the Caribbean …

Industry Expected to Withstand Insured Losses From Florence

Changes in the path and intensity of Hurricane Florence are keeping forecasters, government officials and insurers on their toes. An update by AIR Worldwide yesterday indicated that storm surge heights of 9-13 feet could be expected. “Florence’s slow motion just …

Business News: RMS, Roost/The Weather Company, Hiscox

RMS Releases New Japan Earthquake and Tsunami High Definition Model Global risk modeling and analytics firm RMS announced the release of its new Japan Earthquake and Tsunami High Definition (HD) model. RMS collaborated with local experts, scientific agencies and insurers …

People News: RMS, Nautilus, AIG

RMS Appoints Silicon Valley Executive as CEO Global catastrophe risk modelling and analytics company, RMS, announced the appointment of Karen White as its new chief executive officer, replacing current CEO and co-founder Hemant Shah. White has served for more than …

Losses From Southern California Fire Could Reach $2.5B, Expert Says

Losses from the Thomas Fire in Southern California are expected to fall between $1 billion and $2.5 billion, a catastrophe modeling firm said on Tuesday. The Thomas Fire, which raged across Southern California’s Ventura and Santa Barbara counties throughout most …

People News: CNA, Willis Towers Watson, NCCI, RMS

Robusto To Assume Role Of CNA’s Chairman And CEO CNA Financial Corporation announced that Dino E. Robusto will assume the role of chairman and chief executive officer on November 21, 2016, succeeding Thomas F. Motamed, who is retiring after eight …