Welcome to the January/February 2016 Issue of RMSConnect.

Here's what's happening:

RMS Announcements and Events

  • Launch of New Cyber Risk Management Tools
  • Exceedance 2016 Registration Now Open
  • Version 16.0 Upcoming Release

  • Look for RiskLink and RiskBrowser 16.0 in the Late Spring
  • Simulation Database Available Now
  • Resources, Documentation, and Briefings

  • Update to North America Earthquake Models in Early 2017
  • 2015 North Atlantic Hurricane Season Review
  • U.S. Enhanced FEMA Flood Zone Data
  • RiskLink 15.0 Resources
  • RMS Thought Leadership

  • Expert Insights
  • In the News
  • Events and Speaking Engagements

    RMS Announcements and Events

    Launch of New Cyber Risk Management Tools

    With our recently launched Cyber Accumulation Management System, RMS is introducing new models for five classes of cyber risk perils, ranging from denial of service attacks to cloud service provider failure, along with the Cyber Exposure Data Schema, developed with the Centre for Risk Studies at Cambridge University and eight leading insurance and reinsurance companies. RMS CEO Hemant Shah spoke with Carrier Management, calling the new direction in cyber risk management a "significant opportunity for the industry." The global cyber insurance market is set to reach $7.5 billion by 2020 (according to a PwC report), tripling its current size. RMS cyber risk models and data will help insurers monitor and manage cyber insurance portfolios and stay relevant in a changing economy.

    Exceedance 2016 Registration Now Open

    May 16-19, 2016, at the Fontainebleau Miami Beach, Florida
    Join your colleagues from across the global industry for the most substantive Exceedance conference agenda ever. Over the course of more than 60 conference sessions, in The Lab, and during interactive forums, we will emphasize practical and actionable insights that not only advance your understanding of risk, but that also inform and inspire you to create new opportunities to grow and thrive in an increasingly changing and competitive market. You will discover new models and data, explore high-definition next-gen models, prepare for the RiskLink 16.0 upcoming spring release, review the staged RMS(one) delivery plan, and gather insights from leading experts and thought leaders. Register today!

    Version 16.0 Upcoming Release

    Look for RiskLink and RiskBrowser 16.0 in the Late Spring

    This year, RMS is updating and expanding numerous model solutions as part of RiskLink and RiskBrowser 16.0, which is targeted for release in late spring 2016. Version 16.0 will incorporate a combination of data and methodology-driven updates to several existing models and data products in Europe and the Americas, including:

  • RMS Europe Windstorm Clustering Model
  • U.S. and Canada Severe Convective Storm simulation platform
  • RMS terrorism solutions

    The release also introduces new capabilities to manage marine lines of business and U.S. flood hazard, as well as various software and geocoding enhancements. Although general release is targeted for late spring 2016, some elements are and will be available sooner. As part of the pre-release guidance, the following materials are now available on RMS Owl:

  • RMS Models and Data: Executive Briefing - Version 16.0

    For additional information regarding available or upcoming version 16.0 resources and documentation, please refer to the Version 16.0 Resources Page.

    Version 16.0 Simulation Database Now Available

    On January 12, RMS released the Version 16.0 Simulation Database, which provides early access to the new RMS view of Europe windstorm clustering risk, as well as a fix for Known Issue RLRB-2140, which impacts results for the U.S. and Canada Severe Convective Storm simulation platform. The new simulation database will also be part of the general version 16.0 release. Accompanying the release is a suite of supporting documentation, which is available on RMS Owl or the Version 16.0 Resources Page:

  • Europe Windstorm Models Version 16.0: Executive Briefing 1
  • Europe Windstorm Models Version 16.0: Executive Briefing 2
  • Europe Windstorm Models: Scope of Clustering Model Update
  • Europe Windstorm Models: Clustering Model - Understanding Changes in Results
  • RMS View on Clustering Version 16.0
  • Webinar and RiskClip

    Resources, Documentation, and Briefings

    North America Earthquake Models to Be Updated on RiskLink and RiskBrowser 17.0 in Early 2017

    The update to the RMS North America Earthquake (NAEQ) Models, which includes Canada, the United States, and Mexico, will be released in early 2017 on RiskLink and RiskBrowser 17.0. The FAQ document on Owl includes additional detail on this update. More information about the new NAEQ model features and losses will be shared over the next few months and at Exceedance.

    2015 North Atlantic Hurricane Season Review

    The 2015 North Atlantic hurricane season was a quiet one, predominantly driven by the strong El Niño phase of the El Niño Southern Oscillation in the central and eastern Pacific, which is currently tied with the El Niño event of 1997 as the strongest on record. The 2015 North Atlantic Hurricane Season Review is a detailed report of the season and analysis of the atmospheric and oceanic conditions that drove this quiet season.

    U.S. Enhanced FEMA Flood Zone Data

    The fourth quarterly update to the 2015 RMS U.S. Enhanced FEMA Flood Zone Data (2015 Package 4) is now available. This update reflects the July 2015 to September 2015 changes made to FEMA Flood Insurance Rate Maps, in addition to revisions made from October 2014 to June 2015, which were included in 2015 Package 3. Clients who license the data in RiskBrowser Online automatically received this update on January 15. RiskLink and RiskBrowser clients who license the data can download the updates via secure access links on RMS Owl.

    RiskLink 15.0 Resources

    Please visit and bookmark the Version 15.0 Resources Page for information about available version 15.0 resources.

    RMS Thought Leadership

    Expert Insights

  • Terrorism Insurance as Insurance Against the Failure of Counter-Terrorism: ISIS Attacks in Paris and San Bernardino
    RMS Catastrophist Gordon Woo's recent white paper explains for the first time the terrorists' targeting and attack scheduling during the late-2015 ISIS attacks. It also compares and contrasts the micro-nature of San Bernardino to the macro-nature of Paris, a distinction often lost in media coverage.
  • Just How Unlucky Was Britain to Suffer Desmond, Eva, and Frank in a Single December?
    Maurizio Savina, Senior Manager of Model Product Management, explains that the devastating flooding in the U.K. last December caused by the triple-whammy of storms Desmond, Eva, and Frank isn't actually that rare. What he finds most surprising isn't necessarily the flooding itself, but the lack of resilience.
  • Can Flood Walls Reduce Resilience?
    Dr. Robert Muir-Wood, Chief Research Officer, explains why it takes more than flood defenses to be resilient against flooding. He discusses a global call for improved resilience and how a comprehensive approach, beyond defenses, will increase post-event recovery.
  • Insurers Need a "Dual Horizon" View of Risk to Manage Climate Change
    Chief Research Officer Dr. Robert Muir-Wood was in Paris for COP21 last December, where he discussed the insurance industry's critical role in the financial management of climate catastrophe events as a participant in the OECD/Geneva Association roundtable, Climate Change and the Insurance Sector.

    Read more captivating and compelling insights from RMS experts on the RMS blog.

    In the News

  • RMS Talent Acquisition Team Wins 2015 EMEA Candidate Experience Award
    The award, won by RMS for the fourth year running, celebrates companies that consistently provide their job applicants with a superior candidate experience. "Winning... is a tribute to our commitment to use the industry's best recruitment practices and deliver a transparent hiring process for the candidate," said Oliver Luscombe, Lead Recruiter, Europe and APAC.
  • Making Sense of Interconnected Risks
    Daniel Stander, Managing Director, explains in Strategic Risk that risk managers need a better understanding of risks as they become more interconnected and mobile.
  • As Florida Keys Flood, Property Worries Seep In
    In this AFP article, RMS analysis shows that sea-level rise and flooding could cause $15 billion in property losses by 2030.

    Upcoming Events and Speaking Engagements

  • RMS Cyber Risk Seminar: Managing Cyber Accumulation Risk
    February 10, 2016
    New York, NY
    At this half-day seminar, RMS will introduce new solutions to help you quantify your cyber exposure and accelerate your growth in the cyber insurance market.
  • Heriot-Watt Student Actuarial Society Conference
    February 10, 2016
    Edinburgh, U.K.
    Dr. Gordon Woo, catastrophe risk expert, will present on aviation risk insurance.
  • APEC Workshops on Improving Catastrophic Risk Data and Domestic Catastrophic Insurance Pooling
    February 13-14, 2016
    Lima, Peru
    Matthew Nielsen, Director of Governmental and Regulatory Affairs, will present at two Asia-Pacific Economic Cooperation workshops. The first is on the modeler's perspective how to improve catastrophic risk data gathering in order to better assess risk and access innovative financing and insurance schemes, and the second is on domestic catastrophe insurance pooling.
  • The Cost-Effectiveness of a Californian Earthquake Early Warning System
    February 16, 2016
    Berkeley, California
    Dr. Gordon Woo, catastrophe risk expert, will present at the U.C. Berkeley Seismological Laboratory on The Cost-Effectiveness of a Californian Earthquake Early Warning System.
  • Reinsurance Association of America's Cat Risk Management Conference 2016
    February 16-18, 2016
    Orlando, Florida
    Director of Model Product Management Christopher Folkman will discuss Marine Cargo: The $10 Trillion Modeling Opportunity; Pooya Sarabandi, Senior Director of Model Development, will pose A New Approach to Managing Cyber Accumulation Risk; and Chief Research Officer Robert Muir-Wood will present at the panel discussion, Modeling Companies: Closing Perspectives.
  • IRLS 2016 15th Annual SIFMA Insurance- and Risk-Linked Securities Conference
    February 23-24, 2016
    New York City, NY
    Ben Brookes, Vice President of Capital Markets, will be part of the panel discussion, Understanding Risk Embedded in a Cat Bond: Are Risk Analyses a Necessary Part of the Disclosure?
  • ILS & CAT Bonds London 2016
    March 2, 2016
    London, U.K.
    Stephen Moss, Director of Capital Markets, will participate on the panel, Insights Into CAT Bonds Prospects in Penetrating Emerging Markets.