RMS in the News

RMS is mentioned in the following natural and man-made hazard modeling and insurance industry articles and publications. See selected links for access to full articles.
 

General Coverage
	April 2008	"How Do Our Coastal Cities Fare under Rising Flood Risk?" Catastrophe Risk Management In this article with Catastrophe Risk Management, principal scientist Dr. Celine Herweijer and others discuss how rising sea levels will amplify the flood risk in coastal cities. Understanding future coastal flood risk requires a multi-disciplinary approach, combining expertise across climate science, catastrophe modeling, economics, and policy.
	March 2008	"Data Quality Key to Building a Good Cat Model," Canadian Underwriter Improving the quality of data entered into models can have a dramatic effect on the models’ output, says chief markets officer Matthew Grant. Software can be taught how to recognize and address irregularities in a systematic and auditable way, using predefined rules or heuristics that replicate expert intuition.
	March 3, 2008	"RMS: U.K. Quake Could Boost Property Cover," Best Week Europe In this podcast, Dr. Andrew Sorby, model manager for Europe earthquake at RMS, discusses the affect of the February 27 Lincolnshire Earthquake on property insurance.
	February 15, 2008	"RMS Launches European Wind Storm Risk Index," Financial Times Peter Nakada, managing director of RMS Consulting, discusses the launch of Paradex Europe Windstorm, the first parametric index for assessing insured industry losses from windstorms in Europe.
	February 15, 2008	"London to Test Plans for Response to Floods," Financial Times Government agencies and emergency services attempt to tackle London’s worst-case scenario for a natural disaster. According to a report last September by RMS, a flood in London could inflict £5 billion ($10 billion) of insurance claims, a figure that could run much higher if the barrier failed.
	February 2008	"Soapbox: The Detail is in the Data," The Review Chief markets officer Matthew Grant discusses how data quality has become a key driver in pricing risk and increasingly is seen by rating agencies as a proxy for the effectiveness of management controls. Improving data quality has a direct impact on catastrophe model loss output, and can impact reinsurance costs by many millions of dollars.
	January 21, 2008	"Insurers Try to Calculate Risks of Climate Change," All Things Considered, NPR News Before Hurricane Katrina came along, U.S. insurers didn't consider climate change when they assessed the risk of events like floods. Now they're factoring in a changing world, and it's costing consumers in places like New Orleans. Chief research officer Dr. Robert Muir-Wood is featured in this report.
	December 29, 2007	"Calculating the Cost of Catastrophes," Financial Times RMS president and CEO Hemant Shah, and Peter Williams, finance director of DMGT, discuss DMGT's investment relationship with RMS, the history and evolution of RMS, and the company's continued expansion into new markets and models.
	November 13, 2007	"GR Focus: Data Quality - Back to the Future," Global Reinsurance Catastrophe models have long since been updated to reflect lessons learned from the hurricanes of 2004 and 2005, but the problem of poor quality data still remains one of the biggest barriers to accurate loss assessment, portfolio management and underwriting. In this Global Reinsurance article, Matthew Grant discusses the importance of data quality, and improvements made in recent years.
	November 2007	"MIR Cover Story: Nat Cats and Modeling Post-Gonu," Middle East Insurance Review RMS analyst Emily Paterson discusses Tropical Cyclone Gonu and other extreme events for which Middle Eastern countries are at risk, and looks at solutions for managing natural hazard risk.
	October 25, 2007	"Risk Management Expert: Home Casualty Insurers will Take the Brunt of the California Fires" In a radio interview with MarketWatch, RMS' Don Windeler discusses the impact of the Southern California wildfires on insurance companies and homeowners.
	September 2007	"Re Views: Hemant Shah" Business Insurance President and CEO Hemant Shah discusses the appropriate role and use of models, the importance of data quality in risk management, Solvency II, and deploying excess capital.
	August 22, 2007	Dean Heading for Mexico Oil Fields, CNBC Squawk Box Dr. Claire Souch discusses Hurricane Dean's path towards the southern Gulf of Mexico, where most of the country's oil infrastructure is based, and possible effect on oil prices.
	August 22, 2007	Dean Heading for Mexico Oil Fields, CNBC Squawk Box Dr. Claire Souch discusses Hurricane Dean's path towards the southern Gulf of Mexico, where most of the country's oil infrastructure is based, and possible effect on oil prices.
	July 24, 2007	"The Worst Flood Ever?" Guardian RMS estimates about the number of properties directly flooded, based off of postcode research and press reports of the time, mentioned in article about the 1947 U.K. Flood.
	July 24, 2007	"Insurance Claims Could Top £3bn," Financial Times Estimates from RMS indicating that the June and July U.K. floods could pose the biggest test to the private flood insurance market and could lead to a serious reconsideration of the availability of flood insurance mentioned in article discussing how the recent floods could effect the cost of insurance and its availability.
	July 1, 2007	"GR Survey: Catastrophe Models," Global Reinsurance RMS' Paul VanderMarck discusses the role of catastrophe models in relation to findings from a recent online survey that found support for catastrophe models as a good value for the money, and increasingly important to the business of reinsurers, insurers, brokers and support service professionals.
	July 1, 2007	Storm World: Hurricanes, Politics and the Battle Over Global Warming RMS' upward revision of estimates about Florida and Gulf Coast hurricane risk, following discussions with a panel of experts and scientists, mentioned in Chris Mooney's new book Storm World: Hurricanes, Politics and the Battle Over Global Warming.
	June 21, 2007	"New Orleans is Safer, But Risks Still Loom," Los Angeles Times RMS' Patricia Grossi interviewed as part of an article on the danger of more serious flooding in New Orleans.
	June 11, 2007	"NAIC Sets Hearings To Examine Cat Models," National Underwriter Release of RMS catastrophe model mentioned as an important factor, along with calculations by ratings agencies, in the process of insurers developing their rates and limiting catastrophe exposure in places such as Florida and Louisiana.
	June 1, 2007	"Modelling Earthquake Risk in China," Asian Insurance Review RMS' Domenico del Re discusses China's changing earthquake risk profile and points out the salient features of the model developed in conjunction with the Institute of Engineering Mechanics (IEM), the scientific arm of the China Earthquake Authority.
	June 1, 2007	"Changing Climates, Creeping Costs," Risk & Insurance RMS' Celine Herwijer quoted on how both businesses and governments will have to adapt to the greater hazards created by climate change. Dr. Robert Muir-Wood also mentioned in regards to how climate change may affect increasingly hazardous weather patterns.
	June 1, 2007	"WindX: A Parametric Standard for US Hurricane Risk," Bermuda Re/Insurance RMS' Peter Nakada explains how WindX, a new parametric product, will enable the transfer of risk in different ways.
	May 21, 2007	"A.M. Best Special Report: U.S. Hurricane Catastrophe Review -- One Blow Away From $10 Gas," Insurance News Net RMS mentioned, along with AIR Worldwide Corp. and EQECAT Inc., as having provided A.M. Best with simulated insured losses or background material on how a potential hurricane could affect the Gulf and surrounding energy infrastructure.
	May 14, 2007	"Hurricane Ahead, But Lower Insurance," BusinessWeek RMS' Robert Muir-Wood quoted on misconceptions about insurance pricing as part of an article on why the price of property coverage is going down in the face of dire predictions.
	May 2007	2007 U.S. Insurer Awards, U.S. Insurer As part of the 2007 U.S. Insurer Awards, RMS was selected by readers as "Risk Modeling Firm of the Year." Updates to existing RMS models and the introduction of new models were cited along side our research on catastrophes as features that set RMS apart.
	April 2007	"Windstorm Kyrill: A Glimpse Into the Future?" Catastrophe Risk Management RMS' Claire Souch, along with Julian Alovisi and Jane Toothill, discusses how Windstorm Kyrill serves as a reminder that windstorm is a real threat to insurers and reinsurers in Europe due to both the severity of losses and the large area affected by the storm.
	February 11, 2007	"Factoring in Disaster," The Tampa Tribune RMS models and methodology mentioned in article outlining the pros and cons of using catastrophe models in Florida's storm planning and regulation.
	January 19, 2007	"Killer Cloud," BBC RMS' Dr. Gordon Woo was interviewed as part of this BBC Timewatch Documentary tracing evidence of the 1783 volcanic eruption in Iceland. This volcanic disaster led to poisonous gases that enveloped Europe, and one of the worst winters on record.
	January 9, 2007	"5th Annual Report of the 'Insurance Industry 100 most Powerful (North America)' List," InsuranceBroadcasting.com RMS' CEO and President, Hemant Shah, has been chosen as one of the 100 most powerful people in the insurance industry according to InsuranceBroadcasting.com's 5th annual list. Shah was selected to represent the "Risk Modeling" category based on criteria ranging from diversity of power to influence over resources.
	December 2006 - January 2007	"Objective Estimation of Tropical Cyclone Wind Structure from Infrared Satellite Data," Weather and Forecasting RMS' Kimberly Mueller, along with Mark DeMaria, John Knaff, James P. Kossin, and Thomas H. Vonder Haar, authored this article detailing the use of infrared satellite data in estimating the wind structure of tropical cyclones.
	December 2006 - January 2007	"Pausing for Breath," Environmental Finance RMS chosen as the "Best Advisory/Data Service," for its 7th year running, as part of the Environmental Finance 2006 Market Survey. RMS' Director of Weather Risk Solutions, Jeff Hamlin, is quoted on the growth of the global weather market during 2006.
	November 28, 2006	"Insurers Learn to Pinpoint Risks -- and Avoid Them," LA Times RMS' Hemant Shah featured in article outlining the basics behind RMS cat models, and the impact of the last two hurricane seasons on the insurance market and modelling.
	November 28, 2006	"Newark Firm Helps Insurance Companies Manage Risk," CBS   RMS' Paul VanderMarck was interviewed by a local CBS reporter in response to the LA Times article on modeling and its impact on insurance. A full story and clips from the interview ran on the evening news. Footage of Tristan Camanga doing a RiskBrowser demo was also included.
	November 26, 2006	"Risk is His Business," LA Times RMS' Hemant Shah featured in an article laying out the background and history behind Risk Management Solutions and the increasing role of cat modeling in the insurance industry.
	October 15, 2006	"Mother Nature Commands Fresh Respect From Risk Modelers," Industry Focus RMS' Hemant Shah quoted on the participation of executives in modeling choices and decisions, as well as key lessons learned in 2005.
	October 6, 2006	"Blame the Weatherman: Hurricane Warnings Led to Bad Market Bets," Bloomberg RMS' statement on insurers' expectations for increased annual storm claims mentioned in Bloomberg article on the effect of hurricane warnings on the insurance market.
	October 2, 2006	"Catlin Enters $200 Million Cat Swap," Insurance Journal RMS' director of Risk Markets, Tibor Winkler, quoted on the stochastic risk analyses developed and used in Catlin Bermuda's $200 million Cat swap.
	September 25, 2006	"Insurers Balk at Coastal Coverage," The Island Packet RMS' Josh Darr quoted on use of hurricane models in determining possible damage and likelihood of future storms.
	September 21, 2006	"Group: Wind Insurance a Must in Florida," FXStreet.com RMS wind model used in study on the effect of homeowners' efforts to make homes storm resistant in return for insurers offering wind coverage to those who make changes.
	September 4, 2006	"Insurers Told to Do More to Tackle Climate Change," Reuters RMS' chief research officer, Dr. Robert Muir-Wood quoted on the need for the insurance industry to share responsibility for increases in risk as a result of climate change.
	August 22, 2006	"Risky Business," CNN Money RMS' Dr. Robert Muir-Wood featured discussing the reasoning behind insurance hikes following last year's hurricane season. The article provides a brief outline of what RMS does as a cat modeler, and the basics behind how RMS models are formed and updated based on historical trends and expert elicitation.
	July 26, 2006	"Insurers Say Terror Too Risky to Cover," Washington Times RMS' Peter Ulrich quoted on the private-public partnership necessary to cover huge losses from terrorist attacks.
	April 1, 2006	"The 25 Most Influential Companies," Reactions RMS named one of the "25 Most Influential Companies" along with AIG, Swiss Re, Lloyds and others.
	April 1, 2006	"The Next Generation," Reactions Peter Nakada interviewed as part of a panel discussion on the future of cat modelling, touching on model updates, and thoughts on the catastrophic risks facing the insurance industry.
	April 1, 2006	"Lessons Learned from Katrina," Insurance Networking News Paul VanderMarck is quoted on what the industry learned from Hurricane Katrina and what changes are being made as a result.
	March 29, 2006	"Londres: Prévoir les Risques pour la Population, Tout un Art," Journal de 20H, FT1, French Television Andrew Coburn and Peter Ulrich talk to FT1, a French television station, about what RMS does and terrorism risk in particular.
	March 24, 2006	"Big Rise Seen in Storm Losses for Next 5 Years," Reuters Changes to the RMS hurricane model are profiled and Robert Muir-Wood is quoted on the implications of the changes.
	March 1, 2006	“Models for Hard Times,” Contingencies Patricia Grossi co-authored this article on how catastrophe models can help the insurance industry weather the storms. Components of catastrophe models, the significance of the exceedance probability curve, and new developments in modeling are some of the topics included in the article.
	March 1, 2006	“RMS CEO Discusses Cat Models at Bermuda Conference,” Insurance Journal Hemant Shah talks about how the recent hurricane seasons are driving changes in modeling and the importance of data quality in catastrophe risk information.
	February 28, 2006	“Forecasters See 60% Rise in Hurricane Losses,” CNNMoney This article talks about what changes risk modeling companies are making in light of the anticipated hurricane seasons.
	February 1, 2006	“RMS Advances the Science of Catastrophe Risk Models,” Bermuda Re The inaugural issue of the Bermuda Reinsurance magazine, Robert Muir-Wood explains how RMS' updated models will reflect a new understanding of hurricane risk. Topics covered include recalibration and expansion of vulnerabilities, loss amplification, and enhanced storm surge modeling.
	February 1, 2006	“The Model Modeller,” The Review RMS' Robert Muir-Wood and Gordon Woo are interviewed in this article discussing RMS, modeling in general, and hurricane and terrorism risk in particular.
	January 17, 2006	“Remodeling in the Megacat Age,” Risk & Insurance Hemant Shah speaks to the value of risk models to insurers during the last few record-breaking years of losses.
	January 16, 2006	“The Worst Isn't Over,” BusinessWeek Robert Muir-Wood is quoted on using claims analysis to capture the nature of disasters in risk models.
	January 15, 2006	"Three Questions: Hemant Shah,” Business Insurance Hemant Shah talks about risk modeling and the steps RMS is taking to help the insurance industry to better manage cat risk.
	January 9, 2006	“Insurance Industry 100 most Powerful (North America) List," InsuranceBroadcasting.com RMS' CEO and President, Hemant Shah, has been chosen as one of the 100 most powerful people in the insurance industry according to InsuranceBroadcasting.com's 5th annual list. Shah was selected to represent the "Risk Modeling" category based on criteria ranging from diversity of power to influence over resources.
	January 3, 2006	"Looking Ahead: Cat Risk in 2006,” Insurance Day Authored by Robert Muir-Wood, this article talks about increased hurricane activity rates and the impact on the insurance market.
	January 1, 2006	"Three Not-to-Miss Risks,” CSO Magazine Robert Muir-Wood talks about some of the biggest risks facing the U.S., including a flu pandemic, flood exposure, and a massive cyber attack.
	December 15, 2005	"The Chaos to Come," Nature Magazine RMS' Hemant Shaw and Robert Muir-Wood are quoted in this article on recent natural catastrophes and the outlook for the future of catastrophe management.
	December 12, 2005	"Big Cats Force Change In Disaster Models," National Underwriter
	November 1, 2005	RMS Opens in Bermuda, Bermudian Business Bermudian Business reports on RMS' opening of the Bermuda office and the science of catastrophe modeling.
	October 1, 2005	2005 Reactions Awards, Reactions Magazine RMS Cited as Risk Modeling Agency of the Year in Global Industry Polls, a third win for RMS in four years.
	August 11, 2005	"Target: Bermudian Graduates," The Royal Gazette Bill Keogh, RMS senior vice president and managing director, talks to Bermuda's leading daily newspaper about the opening of the Bermuda office and the company's interest in tapping into the local talent pool.
	May 8, 2005	"All Hail the Backyard Weather Watchers," USA Today
	March 14, 2005	"Catastrophe Models - The Re-appliance of Science," The Review
	March 3, 2005	"Feature Story-The Real Deal: How Real Estate Companies Assess Risk," Property Protection Report
	February 7, 2005	"Getting Ahead of the Weather," Fortune This article focuses on the impact of weather on business. Corporate strategies for hedging weather risk are discusses.
	February 1, 2005	"Taking Cover," U.S. Insurer
	January 31, 2005	"What If?" Forbes "The Next Big Killer," parallels the recent Asian tsunami with a very real and probable "influenza tsunami," where no one would be immune and only a fraction of the population would have access to a vaccine. Featured with the article is a sidebar listing property and casualty loss for nine RMS catastrophe scenarios with 100-year return periods (the full scenarios were originally published in Risk & Insurance magazine).
	December 2004-January 2005	"Markets Coming of Age," Environmental Finance RMS' Climetrix® wins in the weather derivative category for Best Advisory/Data Service.
	November 22, 2004	"RMS Provides Risk Analysis for Hurricane, Earthquake Risk," Insurance Networking
	November 17, 2004	"RMS Releases New Risk Tools," Insurance & Technology
	November 15, 2004	"RMS Expands, Adds Scenarios to its Global Suite of Catastrophe Peril Models," Insurance Advocate
	October 22, 2004	"RiskTools Streamline Integration of RMS Analytical Applications," Insurance Networking
	September 2004	"California Wildfires: Up in flames," U.S. Insurer

Terrorism Risk Coverage

	July 14, 2006	"Terrorism Risk Cat Bond Prevails," Canadian Underwriter RMS' Dr. Gordon Woo quoted on terrorism alternative risk transfer.
	July 10, 2006	"The NSA is Tap, Tap, Tapping," San Francisco Chronicle RMS' Gordon Woo mentioned disccussing NSA data and techniques.
	December 1, 2005	"Forecasting the Face of Terrorism," Risk & Insurance RMS' Gordon Woo talks about the importance of understanding terrorism risk in our ability to prevent it.
	August 7, 2005	"Newark Firm Deals in Global Risk Analysis," San Francisco Chronicle RMS' president & CEO, Hemant Shah, was recently interviewed by business reporter David Lazarus regarding terrorism risk. The interview ran in the Sunday edition of the San Francisco Chronicle.
	July 13, 2005	"Terrorism Insurance Gap Looms for USA," USA Today RMS' Peter Ulrich quoted on capacity for covering terrorism insurance.
	June 27, 2005	"Study Calls for Broadening U.S. Terror Coverage," Business Insurance
	June 2005	"Security Update: RMS List of Threatened Cities Changes," Property Protection Report Peter Ulrich from RMS was interviewed about the terrorism risk outlook for U.S. cities. The article mentions that "After New York and Washington, the firm [RMS] considers San Francisco, Los Angeles and Chicago to be most at risk. But cities have moved up and down the spectrum ever since RMS released its first list in 2002. For instance, Miami moved up the ladder based on intelligence and credible threats that were noted by then-Attorney General John Ashcroft. Yet Seattle moved down. It was once considered to be more at risk than it is now...it moved in the opposite direction, again, based on new intelligence."
	May 29, 2005	"Their Doomsday Policy" New York Daily News
	April 4, 2005	"Valley's Terror-attack Risk on Low Side in U.S. City List," Arizona Republic RMS' Peter Ulrich interviewed regarding Arizona's terrorism risk.
	March 25, 2005	"RMS: Terror Loss Estimate Up 25%," National Underwriter
	March 22, 2005	"Terrorism Risk Insurance Act Under Review," RECON
	March 15, 2005	"RMS Model Supports TRIA Analysis," Global Reinsurance
	March 3, 2005	"InsuranceBeat: Insuring Against Terrorism With and Without TRIA," Property Protection Report
	February 1, 2005	"The Changing Face Of Terrorism," U.S. Insurer
	January 10, 2005	"Terrorism Insurance Not in High Demand in Canada, Say Industry Experts," CBC
	January 2005	"Terrorism in 2005," Risk Management This article discusses TRIA, recent terrorism activity, and future threats. Peter Ulrich from RMS points out how terrorist groups are positioning themselves around the globe and possible scenarios for future attacks.
	November 24, 2004	TRIA Uncertainty Worries Insurers," The Wall Street Journal This article discusses the possible implications for the insurance industry if TRIA is not renewed at the end of 2005. An RMS terrorism scenario loss estimate is quoted in the article. "Risk Management Solutions, a risk-modeling firm, estimates the property loss for an attack using a suitcase nuclear bomb in Times Square -- a worst case scenario -- would reach $309 billion and the workers' compensation costs would be $277 billion, for a combined loss of $586 billion. "
	November 11, 2004	"U.S. Terror Risk Rises," Insurance Times This article focuses on potential terrorist attacks on the U.S. and the U.K. over the next year. DR. Andrew Coburn from RMS is interviewed. "The risk of a major terrorist attack on the U.S. in the next year has increased by 15%-20%. Annual property loss due to terrorism in the U.S. was over $1bn per year, with worldwide losses estimated at $4.5bn per year. The U.K. has also been assessed as a higher risk in the coming 12 months. Iraq has been a driver of resentment and anger [in the Islamic community], which has led to the recruitment of European fighters. These people are now returning to Europe radicalized and trained."
	October 11, 2004	"Mathematicians Offer Help in Terror Fight," Yahoo
	September 24, 2004	"Terrorism Risk Rising, Experts Say - Election Irrelevant," CBS Marketwatch.com Dr. Andrew Coburn from RMS interviewed about the affects of the U.S. presidential election on the RMS Terrorism Model results.
	September 14, 2004	"Terrorists Target Financial Firms," Insurance & Technology

Hurricane Coverage

	June 20, 2005	"RMS Monitors Surge for Labor, Materials After Hurricanes," Business Insurance
	June 15, 2005	"For Thousands, Ravages of 2004 Hurricane Season Linger," The Wall Street Journal RMS' Philip LeGrone is quoted in this article about claims status and pending damage associate with the 2004 hurricane season. LeGrone says that "several of his company's clients consider more than 90% of their residential claims closed from the 2004 hurricanes. A smaller percentage of commercial claims have been resolved, and some repairs won't be completed until early 2007."
	June 3, 2005	"Delay in 2004 Hurricane Repairs Could Hit Insurers in 2005," Environmental Finance
	May 16, 2005	"Atlantic Hurricane Season to Be Stormier Than Normal," Bloomberg News
	March 25, 2005	"Coastal homeowners face rising insurance rates, greater restrictions," Post-Gazette.com
	March 17, 2005	"After Ivan: Living with Risk," Cayman Observer
	March 8, 2005	"Losses Fail To Put Insurers Off Florida," Insurance Day
	February 17, 2005	"RMS to Fund New Florida Hurricane Detector," Insurance Times
	February 16, 2005	"RMS To Fund Technology Initiative For Florida Coastal Monitoring Program," Insurance Networking
	February 16, 2005	"RMS Backs Tech Improvements to Support Gathering of Real-Time Hurricane Data by FCMP," Claims Guides
	February 1, 2005	"Whipping Up A Storm," Futures & Options World
	January 17, 2005	"Modeler to Analyze 2004 Hurricane Data," Industry Focus
	January 14, 2005	"New Florida Legislation Could Push Up Premiums," Reactions
	October 12, 2004	"Hurricane Warfare," Insurance & Technology
	September 8, 2004	"Insurers Deal With Hurricane One-Two Punch," Insurance & Technology