RMS

Risk Management Solutions has expanded its online services for real-time hurricane monitoring and information, coinciding with the start of the 2002 Atlantic Hurricane season on June 1. The expanded RMS monitoring services are designed to help insurers respond when a major storm threatens key population centers along the Eastern seaboard or Gulf of Mexico. The CAT Updates service offers email notifications and web updates for catastrophe events. For the 2002 hurricane season, RMS has incorporated a ‘storm watch’ feature to track hurricane formation in the Atlantic and other basins worldwide. The service provides access to satellite images for active storm basins and details on individual storm formation and development. For named storms, CAT Updates provides detailed reports with the latest forecasts of potential impacts, modeling parameters for simulating the storm in the RMS RiskLink(R) catastrophe modeling software, and damage reports for landfalling storms.

RMS also offers the RiskOnline(TM) system (http://www.riskonline.com) to track potential insurance losses associated with individual storms that threaten the U.S. As soon as the National Hurricane Center (NHC) starts monitoring a particular storm, RiskOnline uses the NHC forecasts to automatically filter and assign probabilities to simulated tracks in the RMS basin-wide stochastic database of 400,000 storms. Subscribers get 24-hour access to the latest loss projections for the U.S. insurance industry or their own company-specific portfolios, including breakdowns by state, region, line of business, or business unit.

Topics Catastrophe Hurricane