RMS News

RMS Releases High Definition Models for European Severe Convective Storm

RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the release of new European Severe Convective Storm (EU SCS) High Definition Models. The models represent 50,000 years of simulation of hail and straight-line wind and tornado risk and include …

Good Piece of Advice from RMS CEO About Assessing a Change in Jobs

Karen White, CEO of RMS, said one of the best decisions in her career was to join Oracle, which took her career on a different trajectory. At the time, in 1993, she had a very secure position as CEO with …

RMS CEO White: Embracing Change in a Transforming Industry

During her career, Karen White, the CEO of RMS, has had a front-row seat to observe what happens with companies and industries in transformation and how enormous value—and disruption—can be created. While some people are afraid of change, White embraces …

RMS Appoints Steel as Global Head of Business Development

RMS, the catastrophe risk modeling company, announced the appointment of Michael Steel as global head of Business Development, joining the RMS Executive Committee. Steel first joined RMS in 2016 to help drive innovations to solve the key risk management challenges …

Insured Losses for Europe’s Storm Ciara-Sabine Could Hit $2 Billion: Modeling Firms

Catastrophe risk modeling firm AIR Worldwide estimates that insured losses due to wind from Europe’s winter storm Ciara (also known as Sabine) will range between €1.1 billion and €1.9 billion (US$1.2 billion and US$2.1 billion), with the majority of claims …

A Tale of Two Californias: Managing Wildfire Risk in the Year 2030

For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for them in the same …

Many Global Firms Face High Coronavirus Costs Due to Insurance Exclusions

Many global companies from hotels and airlines to industrial houses are expected to have to foot the bill for disruptions caused by a new coronavirus in China, with epidemics usually excluded from insurance cover, experts said. With 132 deaths in …

Is the Re/Insurance Industry Ready for the Fourth Industrial Revolution?

Industry transformations occur when the pain of staying the same is suddenly greater than the pain of changing, according to Karen White, CEO of RMS. “The second thing that has got to be present for those transformations to occur is …

Australia’s Bushfires Could Surpass 2009’s Costly Season; Analysts, Insurers Comment

Australia’s bushfire season has months to run and could easily surpass the most costly fire season, 2009’s Black Saturday fires in Victoria, which had a price tag of an estimated A$4.4 billion (US$3 billion), according to Moody’s Analytics, in a …

Insured Losses from Typhoon Hagibis Estimated at $7B-$11B: RMS

Insured losses stemming from Typhoon Hagibis in Japan are estimated to range between US$$7 billion and $11 billion, according to Newark, Calif.-based catastrophe modeling firm RMS. While last month’s Typhoon Faxai was a wind-driven event, RMS estimates typhoon flooding from …