catastrophe modeling News

RMS and Taiwan’s MSIG Mingtai Collaborate on Typhoon Risk Insights

RMS, the Newark, Calif.-based catastrophe risk management firm, has formed a technical collaboration with MSIG Mingtai Insurance Co. Ltd. to share industry information and insight about the local Taiwanese insurance market, as RMS develops a typhoon model for Taiwan. The …

RMS Names Sharma Senior Vice President of Cloud Operations and IT

RMS, the Newark, Calif.-based catastrophe risk management firm, announced it has named Sanjiv “Sunny” Sharma as senior vice president of cloud operations and information technology. Sharma joins from Rocket Fuel, a digital advertising firm, where he led the global engineering …

Natural Disasters Could Cost $750 Billion Annually in 15 Years: AIR Study  

Economic losses from global natural catastrophes likely will triple over the next 15 years, unless steps are taken to reduce bad development choices, according to preliminary results of a catastrophe modeling study presented at the third UN World Conference on …

Climate Change Modeling on Cusp of Paradigm Shift

In the face of growing interest in climate change impacts, several big catastrophe modelers said they’ve heard from more clients interested in receiving climate-related data and they believe the field is on the cusp of a change in the way …

Guy Carpenter Appoints Eagle as Head of International Analytics

Guy Carpenter has appointed Matthew Eagle as managing director and head of international analytics. Eagle will be joining Guy Carpenter’s London office on August 1, following the end of his notice period. In his role as head of international analytics …

Characteristics of ‘Charlie Hebdo’ Attack Thwarted Counter-Terrorism Efforts: RMS

A number of unique characteristics of the January 7 terrorist attack against satirical French magazine “Charlie Hebdo” allowed terrorists to succeed despite counter-terrorism efforts, according to a new report by Dr. Gordon Woo, catastrophist and terrorism risk expert at RMS, the …

AIR’s ‘Global Exceedance Probability Curve’ Report Shows Industry Loss Metrics

Catastrophe modeling firm AIR Worldwide estimated that the 1 percent exceedance probability loss (or the 100-year return period loss) is approximately $231.5 billion and the long-term average annual loss from natural catastrophes and terrorism is $72.6 billion. These statistics were …

Aon Benfield Launches Arabian Earthquake Model

Impact Forecasting, Aon Benfield’s catastrophe model development unit, launched a catastrophe model to estimate the financial impact of earthquakes in the Arabian Peninsula. The demand for catastrophe modeling in the countries of Gulf Cooperation Council (GCC) is increasing as a …

Typhoon Neoguri to Skirt Okinawa; Nears Kyushu Landfall: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, at about 6:30 am local time today, Typhoon Neoguri—the strongest typhoon to date in 2014—is “roaring toward Japan with sustained winds of 180 km/hr [112 mph] and gusts above 250 km/h [155 mph].” …

Powerful M6.9 Quake Strikes near Mexico-Guatemala Border: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, at about 6:30 am local time yesterday, July 7, a powerful M6.9 earthquake struck near the border of Mexico and Guatemala near the town of Puerto Madero, Mexico, at a depth of 37.3 …