Welcome to the March 2016 Issue of RMSConnect.

RMS Announcements and Events

  • Cyber Risk Resources Now Available
  • RMS.com Has a New Look
  • Exceedance Keynote Speakers Announced
  • Resources, Documentation, and Briefings

  • Now Available: Marine Cargo Cat Modeling Report
  • RiskLink 15.0.1 Certified by Florida Commission and Louisiana Department of Insurance
  • Upcoming Release: Rebuilt RMS New Zealand Earthquake HD Model
  • Version 16.0 Pre-Release Materials
  • 2015 A.M. Best SRQ Guidance
  • CCRA Exam Registration Opens March 17
  • RiskLink 15.0 Resources
  • RMS Thought Leadership

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

    RMS Announcements and Events

    Cyber Risk Resources Now Available

    In early February, we released a new Cyber Accumulation Management System and held sold-out cyber seminars in London and New York City. You can find a wealth of resources at RMS.com, including all our reports and news on cyber. Download the reports Managing Cyber Insurance Accumulation Risk and the accompanying Cyber Insurance Exposure Data Schema and find information on our cyber loss-model scenarios, media reports, and an infographic, plus other tools and materials related to this growing opportunity.

    There's a New Look at RMS.com

    With a new design and new features, RMS.com gives you easy access from any device to the resources you need. The new site was designed with you in mind, featuring a clear presentation of products and services, the latest research and perspectives, and additional ways to learn more and get in touch. RMS.com is a great complement to our client portal, RMS Owl. Read more about the new look.

    Announcing This Year's Exceedance Keynote Speakers

    Our keynote speakers at Exceedance 2016 will share their knowledge and experiences across the landscapes of terrorism, cyber security, and climate change. They will bring us above and beyond RMS science, focusing on relevant assessments of today's world and insights about the risks. You won't want to miss:

  • Bruce Hoffman, a security studies professor at Georgetown University who held counterterrorism posts at RAND and the CIA; Hoffman was a lead author of the final report from the Independent Commission to Review the FBI's Post-9/11 Response to Terrorism and Radicalization.
  • Matt Olsen, a president and co-founder of IronNet Cybersecurity, whose work at the National Security Agency and Department of Justice prompted President Obama to appoint him director of the National Counterterrorism Center, where he was in charge of the federal government's efforts to integrate and analyze terrorism information and coordinate counterterrorism activities from 2011 to 2014.
  • Tim Jarvis, an environmental scientist and author committed to finding pragmatic solutions to climate change and biodiversity loss; Jarvis is the founder and leader of 25zero, a campaign to raise awareness of the impact of human-induced climate change on the world's rapidly melting equatorial glaciers.

    If you're not already registered for Exceedance 2016 in Miami on May 16-19, register today to hear their unique insights.

    Resources, Documentation, and Briefings

    Marine Cargo Cat Modeling Report Now Available

    We've released a 32-page report explaining key elements in the development of our new marine cargo and specie global risk model, the world's first. The timing is right: The record-setting marine losses of Hurricane Sandy, Costa Concordia, and Port of Tianjin occurred while international trade rapidly changes, with vessels growing larger and ports expanding. Download Marine Cargo Catastrophe Modeling: Navigating the Challenges, Charting the Opportunities to see the current state, best practices, and future of marine modeling. You'll learn about our cargo-specific approach that focuses on vulnerability and port accumulation management.

    RiskLink 15.0.1 Certified by Florida Commission and Louisiana Department of Insurance

    In January, the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) certified the RMS North Atlantic Hurricane Model in RiskLink 15.0.1 (Build 1625) as functionally equivalent to the North Atlantic Hurricane Model in RiskLink 15.0 (Build 1625). Both certifications expire on November 1, 2017. RMS also submitted RiskLink 15.0.1 to the Louisiana Department of Insurance. Clients are now able to use either RiskLink 15.0.1 or 15.0 for rate filings in both states.

    Upcoming Release: Rebuilt RMS New Zealand Earthquake HD Model

    In 2016, RMS will release a rebuilt New Zealand Earthquake Model, the first RMS high-definition simulation-based earthquake model, leveraging lessons learned from the 2010-2011 Canterbury Earthquake Sequence. The new model updates all aspects of earthquake modeling in New Zealand, including the seismic source model, a new methodology for modeling liquefaction, and updated vulnerability curves. It also introduces a new probabilistic tsunami model. Read the scope executive briefing, the scope of update, and watch the scope webinar on Owl.

    RMS is intending to release an executive briefing on directional changes of results on Owl in several weeks. More quantitative changes in results will be communicated at Exceedance. Shortly after Exceedance, RMS is intending to hold a workshop in New Zealand.

    Version 16.0 Pre-Release Materials

    As part of the pre-release guidance for RiskLink and RiskBrowser 16.0, the following materials are now available on RMS Owl:

  • Marine Cargo Model Version 16.0: Executive Briefing
  • Terrorism Models Version 16.0: Executive Briefing

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

    2015 A.M. Best SRQ Guidance

    With the recent release of the A.M. Best 2015 statement year SRQ, RMS has updated our guidance for responding to natural catastrophe, terrorism, and data quality-related questions. Resources are available here on RMS Owl.

    Registration Opens March 17 for Next CCRA Exam

    Registration opens on March 17 for the RMS Certified Catastrophe Risk Analyst (CCRA) exam on April 28. This exam sitting will be offered at the RMS offices in Newark, Hoboken, London, Zurich, Peoria, and Minneapolis. It is open to RMS clients and employees who have completed the instructor-led CCRA course and passed three self-study peril courses. Registration closes April 14. The next 2016 sitting for the exam will be September 15. Registration, more information, and the complete 2016 schedule are available on the training page on Owl. If you have questions, please contact Deb Dahlby.

    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

    Blog Insights

  • Three Principles for Exposing the Hidden Risks (and Opportunities) Within Your European Flood Portfolio
    Maurizio Savina, Senior Manager of Model Product Management, compares building a profitable European flood portfolio to walking a tightrope: a tricky balancing act. If we challenge outmoded assumptions, use high-quality data, and remember that floods don't respect national borders, then a stable base can be built, minimizing risk and maximizing profit.
  • Unlocking the Potential of Cyber Insurance
    Cyber insurance coverage constitutes the first new class of business that the market has developed in a long time. Tom Harvey, Product Manager of Emerging Risk Innovation, discusses three components that comprise the cyber risk management solution built by RMS, which solves real-world challenges and meets insureds' demands for cyber cover.
  • The ILS Community Is Calling Out for Greater Pricing Transparency
    Analyst Anaïs Katz and Jinal Shah, Director of Capital Markets, address how difficult it can be to capture and represent all the risks in a single reinsurance contract. As fund managers face increasing pressure from stakeholders to have deals marked independently, the Insurance Linked Securities (ILS) market demands risk-linked valuation of its on-risk investments. A uniform and holistic procedure for modeling and pricing reinsurance contracts is crucial to satisfying investors and stakeholders.
  • The Blizzard of 2016: The Historical Significance of Winter Storm Jonas
    Ryan Leddy, Manager of Model Product Management, compares the Blizzard of 2016 with the Blizzard of 1996. Although only time will tell how the economic losses of 2016 will compare to 1996, Leddy believes the similarities of the unique weather phenomena of the two storms, plus heavy snowfall amounts across major northeastern U.S. cities, will keep Winter Storm Jonas part of the conversation. For more information on the RMS U.S. and Canada Winter Storm solutions, watch our short presentation explaining why an informed view of winter storm risk is crucial for your accumulation management and portfolio growth strategies.

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

    In the News

  • Rethinking Hurricane Categories: An Index Based on Wind and Water Forcing
    Dr. Mark Powell, Vice President of Model Development, explains the limitations of using the Saffir-Simpson Hurricane Scale (SSHS) as the primary metric for measuring hurricane destructiveness in this Artemis article.
  • Cyber Risk Now a Five-Front Challenge
    Andrew Coburn, Senior Vice President, discusses with A.M. BestTV the characteristics and categories of cyber risk.
  • Small Cyber Insurers Worry Regulators
    CEO Hemant Shah, speaking at the Property/Casualty Joint Industry Forum, says that there has been a shift from covering assets at risk to systems at risk in this Carrier Management article.
  • Insurers Still Cover a Small Part of Loss Exposure
    Hemant Shah, CEO, discusses with A.M. BestTV where the industry must look for growth opportunities, particularly concerning the protection gap.
  • RMS Seeks to Unlock Cyber Re/Insurance Capacity With Accumulation Tool
    This Artemis article examines the release of the RMS Cyber Accumulation Management System, as RMS seeks to encourage the industry to be more comfortable with increasing limits on cyber risk exposure covers.
  • Tianjin Blast Could Be Largest Marine Insurance Loss Ever
    Chris Folkman, Director of Model Product Management, explains marine risk and the challenges of modeling cargo ports in this Maritime Executive article about the port of Tianjin explosion.

    Upcoming Events and Speaking Engagements

  • SPE/SEG Workshop: Injection Induced – Seismicity – Engineering Integration, Evaluation, and Mitigation
    March 28-30
    Fort Worth, Texas
    Dr. Robert Muir-Wood, Chief Research Officer, will speak at the session on Risk, Liability, and Mitigation.
  • Seismological Society of America 2016 Annual Meeting
    April 18-20
    Denver, Colorado
    Delphine Fitzenz, Principal Earthquake Modeler, will be co-chairing the session discussing Risk Management Applications of Earthquake Seismology.