Risk Management Solutions of Newark, CA announced the introduction of its newly upgraded website containing complete information on its publications, updates on catastrophe events, including a full report on the WTC disaster, overviews of catastrophe risk and peril models for over 40 territories, and a glossary of basic hazard and insurance terminology.
One of its new models is for U.K. River Flood catastrophes which analyzes a set of over 2200 “realistic flooding events.” Robert Muir-Wood, RMS managing director of global risk modeling, stated that river flood had been an underestimated catastrophe peril in the U.K. Last fall’s series of disastrous floods in the country cost insurers over $1 billion.
“More than 1 million properties are at risk from flooding in the U.K.,” RMS said in a written statement. It indicated that coverage for flooding is included in all insurance policies, and that it expects loss risks to continue to increase “as a result of further development on flood plains and nominal investment in maintenance of local flood defenses.” It also indicated that “Many climatologists also anticipate increased winter rainfall in association with climate change.”
Further information can be obtained from the new website at: www.rms.com.
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