RMS News

Insured Loss Estimates from California Wildfires Now up to $8 Billion

Insured losses from the siege of California wildfires could possibly reach $8 billion, according to new estimates released on Friday by catastrophe modeler RMS. The firm now estimates the insured loss for the wildfires impacting Sonoma, Napa, Solano, Lake and …

RMS Opens Office in Sydney to Support Client Growth in Australia, New Zealand

RMS, the Newark, Calif.-based global risk modeling and analytics firm, has opened a new office in Sydney, Australia, as part of its drive to support clients’ expansion in the Australian and New Zealand markets. The focus will be to help …

RMS Launches Risk Selection Solution for Underwriters

RMS, the Newark, Calif.-based risk modeling and analytics firm, has introduced a solution that enables underwriters to access critical information about any location globally, providing “a competitive advantage in risk assessment.” The new application programming interface (API) links insurers’ underwriting …

RMS Estimates Hurricane Maria’s Insured Losses Will Range Between $15B and $30B

RMS, the Newark, Calif.-based risk modeling and analytics firm, estimated that the insured loss from Hurricane Maria will be between US$15 billion and US$30 billion. This estimate represents the insured losses associated with wind, storm surge and inland flood damage …

Beazley Estimates $150M Earnings Hit From Hurricanes, Earthquakes

Lloyd’s of London insurer Beazley said on Friday it reckoned that its losses from hurricanes Harvey, Irma and Maria in the Caribbean and southern United States and a series of earthquakes in Mexico would reduce its 2017 earnings by about …

RMS Names Dailey to Lead U.S. Inland Flood Model in California

RMS has named Pete Dailey vice president to lead flood model development in its California headquarters. Dailey will oversee the upcoming release of the RMS U.S. Inland Flood Mode, and he will lead the development of modeling tools. Dailey, an …

Here’s What a Category 5 Hurricane Could Do to Florida

Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, but the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …

25 Years Later…What If an Andrew-Type Storm Hit Florida Today?

Though Florida hasn’t suffered a category 5 storm since Hurricane Andrew hit the north Miami area on Aug. 24 1992, the risk of such a storm has not gone away or even declined. In fact, the state’s risk of destruction …

25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew

Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew had just barreled through …

RMS Launches New Models for Tropical Cyclone & Earthquake in Asia Pacific

RMS, the Newark, Calif.-based risk modeling and analytics firm, has introduced typhoon models for wind and flood for South Korea and Taiwan, plus four new earthquake models for Singapore, Malaysia, Thailand and Vietnam. This launch augments the company’s existing suite …