Log In

Reset Password

RMS to launch new suite of climate change models

Climate focus: Karen White, CEO of RMS (File photograph)

Catastrophe risk solutions company RMS plans to launch a new suite of climate change models to help customers assess the near and long term impacts of climate change on physical assets and their businesses.

Karen White, chief executive officer of RMS, said: “Today there are no robust or consistent frameworks that can quantify the physical risks posed by catastrophes in a changing climate at the depth required. The innovative suite of RMS Climate Change Models changes that, giving the market a powerful new set of tools.”

She said the financial impacts of climate change are not solely a “future problem”.

Ms White said: “The increasing incidence of wildfires, floods and hurricanes mean that climate change insights need to be incorporated into financial decisions that are being made today, in parallel with long term strategic planning and meeting increasing regulatory, environmental, social and governance and TCFD reporting requirements, and investor and customer demands.”

RMS said its new climate change models take its existing capabilities further with “forward-looking predictive insights and analysis”. They will be generally available in June for major peril models North Atlantic hurricane, Europe inland flood and Europe windstorm.

Further models and geographies are set to follow the initial launch.

RMS said its climate change solutions include climate change specialist advisory and consulting expertise and regulatory, ESG and TCFD support.

Commenting on the climate change solutions, Eric Letourneau, group head of Cat accumulation management for QBE, said: “The insights on climate risk provided by RMS have enabled us to better understand climate-related risks and opportunities for our business, to report those insights to financial stakeholders, and to develop and test strategy for our business. We can embed these analytics in our business processes, confident that we have consistency with how we measure underwriting risk and capital requirements now and in the future.”

More information on RMS climate change solutions are available at https://www.rms.com/climate-change

You must be Registered or to post comment or to vote.

Published March 26, 2021 at 8:00 am (Updated March 25, 2021 at 3:54 pm)

RMS to launch new suite of climate change models

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon