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Exceedance 2019: The Countdown Is On

There is less than a week to go until the start of Exceedance in Miami on May 13! If you have already secured your ticket, we look forward to welcoming you. And if you’d like to join us, there is still time – so register now. Exceedance is the must-attend conference where the global risk management community comes together with RMS experts, industry thought leaders, and colleagues to explore how our latest enterprise solutions and comprehensive data-driven approach will help improve your business efficiency and effectiveness.

There is so much to experience – from ground-breaking keynotes to a comprehensive program of educational and informative sessions across seven informative tracks – together with the Expert Bar, where RMS professionals will be standing by, ready to answer your questions. Time to socialize and network is just as important, with pre-conference activities and nightly social events building up to our legendary Exceedance Party (EP).

RMS is contributing, on an ongoing basis, toward offsetting the carbon-emissions impact resulting from each delegate’s attendance: find out more. If you’re attending, share the buildup to Exceedance on social media using #Exceedance.

Exceedance 2019: Mix and Match Across 70+ Track Sessions

You can build your perfect agenda at Exceedance as you explore seven tailored tracks designed to inform and inspire across a range of risk management areas. Our well-regarded “Fundamentals” track introduces the principles and best practices of risk modeling. With “New Modeling Insights” and “Modeling: The New Landscape,” you can explore the latest developments in both nat cat and emerging perils.

From exploring the RMS platform, insight around evolving your business, and a track focusing on capital, resilience, and the business of uncertainty – it’s clear that with such a choice of sessions, you will be able to mix and match across the topics to create a customized agenda. Explore all seven Exceedance tracks.

Exceedance 2019: Celebrating 30 Years of RMS

RMS turns 30 this year, and to celebrate there will be two social events at Exceedance to mark this special occasion. On Tuesday, May 14, all delegates will be invited to join RMS at an evening event to toast this big milestone as an acknowledgment of three amazing decades of science, innovation, and our partnerships with our clients.

And this year’s Exceedance Party (EP) on Wednesday, May 15, continues the birthday celebration with a “Decades” theme, as RMS acknowledges three decades as a pioneer in the risk management industry. Delegates can pick between their favorite decades, but which to choose? Will the seventies, eighties, or nineties win out? Find out about our socials, pre-conference events, and “Get Up. Get Moving!” morning fitness classes at Exceedance.

(U.S.) RMS Updates View of Risk for North Atlantic Hurricane

Incorporating the latest RMS methodologies and research on hazard, vulnerability, and financial modeling, RMS has released a new view of hurricane risk across hurricane-impacted countries in the North Atlantic Basin.

The RMS® North Atlantic Hurricane Models include updates to long-term and medium-term event rates throughout the Atlantic Basin and reconstructions of events from recent seasons. This ensures decisions can be made using the region’s most current view of Atlantic hurricane risk.

The models will be delivered on the latest version of RiskLink® and RiskBrowser® risk management software, Version 18.1. And in keeping with our commitment to ensure the highest geocoding quality and accuracy, RMS will be update geocoding for all U.S. models in Version 18.1. In addition, the amount of high-resolution building data has doubled for the U.S., providing users with the best view of the hazard at those locations. Read the full announcement, or RMS clients can visit RMS Owl for more information.

(APAC) RMS Updates Views of Risk for Taiwan and Southeast Asia Earthquake

Building in the latest events in the region, RMS has released new views of earthquake risk in Taiwan and in six countries across Southeast Asia (Indonesia, Philippines, Malaysia, Singapore, Thailand, and Vietnam). The models will be delivered on the latest version of RiskLink® and RiskBrowser® risk management software, Version 18.1.

For Taiwan, the insurance market has changed significantly since RMS first released the Taiwan Earthquake Model in 2001, following the M7.6 Chi-Chi Earthquake in 1999. This update brings the view of risk fully current with the latest science and RMS methodologies and innovations.

Across Southeast Asia increased observational data and claims experiences from major events in the region have contributed to a detailed update of our suite of earthquake models. Events including the Yogyakarta (2006), Padang (2009), and Bohol (2013) Earthquakes have yielded additional data analytics that have been incorporated into the models for all six countries. Read the full announcement, or RMS clients can visit RMS Owl for more information.

Cyber Risk Models: Time for a Bench Test

At a recent conference in London, cyber risk models from RMS and other vendors were put through their paces to see how the generated losses would compare, using a small portfolio of 46 U.S. companies across a range of industry sectors. Each model team was asked to provide standard risk metrics including the average annual loss (AAL) and various points on the aggregate exceedance probability (AEP) curve – showing only gross losses.

Christos Mitas, vice president of model development at RMS, who leads the cyber risk modeling team, wrote an RMS blog on this exercise; find out more about the range of losses that these models produced and some of the factors behind the wide differentials.

New Webinars Explore Wildfire as a Peak Peril

Once considered a highly manageable “attritional” loss by the insurance industry, comprised of a high frequency of low-severity claims, wildfire has changed over the past five years. But with a changing climate, more exposure in high-risk areas, and a buildup of burnable vegetation, the risk of severe wildfire has increased to a point where it must now be treated as a major catastrophe risk, just like flood, hail, or earthquake.

For the first of two new webinars examining wildfire risk, RMS has joined forces with the Insurance Institute for Business and Home Safety (IBHS). Entitled Navigating Wildfire Risk: Catastrophe Analytics for a New Peak Peril, live webinar was on Friday, May 3, from 1–2 p.m. ET – click here to watch on demand.

Hosted by Dan Gorham, IBHS research engineer, and presented by Chris Folkman, senior director of product management at RMS, the webinar will provide a closer look at the latest science of fire hazard modeling and the mitigation measures required to reduce location-level risk

In addition, access a recording of a recent webinar , Wildfire Catastrophe Modeling: Analytics for a New Peak Peril, with the Institute for Catastrophic Loss Reduction (ICLR), a world-class center for multidisciplinary disaster prevention research and communication based in Canada. Chris Folkman from RMS examines the reasons behind the elevated levels of wildfire risk, mitigation measures that can reduce location-level risk, and the science of fire hazard modeling. Watch the webinar.

Take a Deep Dive Into RMS Resilience and ILS Solutions

A team of RMS employees and clients worked with our longstanding partner Build Change to learn about their mission to greatly reduce deaths, injuries, and economic losses caused by housing and school collapses due to earthquakes and typhoons in emerging nations.

During March, this year’s annual RMS Impact Trek visited the Philippines for the first time, following successful visits to Haiti and Nepal in recent years. Build Change has been active in the Philippines since 2013. They have worked on a range of long-term projects from helping to rebuild schools and pre-disaster retrofitting of homes in poorer areas of Manila, through to training technicians in disaster-resistant construction skills in Guiuan in southeast Samar.

The skills that both RMS employees and clients bring to Impact Trek complement Build Change’s work. The knowledge of risk modeling and analytics – plus how to use this knowledge to develop resilience – is highly valued, ensuring vulnerable communities benefit from safer housing, retrofitting, and sound construction methods. Find out more about this year’s Impact Trek.

Impact Trek: Helping Develop Resilient Construction in the Philippines

A team of RMS employees and clients worked with our longstanding partner Build Change to learn about their mission to greatly reduce deaths, injuries, and economic losses caused by housing and school collapses due to earthquakes and typhoons in emerging nations.

During March, this year’s annual RMS Impact Trek visited the Philippines for the first time, following successful visits to Haiti and Nepal in recent years. Build Change has been active in the Philippines since 2013. They have worked on a range of long-term projects from helping to rebuild schools and pre-disaster retrofitting of homes in poorer areas of Manila, through to training technicians in disaster-resistant construction skills in Guiuan in southeast Samar.

The skills that both RMS employees and clients bring to Impact Trek complement Build Change’s work. The knowledge of risk modeling and analytics – plus how to use this knowledge to develop resilience – is highly valued, ensuring vulnerable communities benefit from safer housing, retrofitting, and sound construction methods. Find out more about this year’s Impact Trek.

Ensuring No One Is Left Behind After a Disaster

The United Nations Office for Disaster Risk Reduction (UNISDR) meets in Geneva on May 13–17 for its biennial Global Platform for Disaster Risk Reduction. A multi-stakeholder forum established by the UN General Assembly, its aim is to review progress toward Sendai Framework goals, share knowledge, and discuss the latest developments and trends in reducing disaster risk.

Dr. Nicola Howe, lead modeler in model development at RMS, will be a conference presenter. She’ll discuss why it is vital to use gender, age, and disability-responsive data to empower those left furthest behind – and why it’s fundamental to effective disaster risk reduction. In a series of recent RMS blogs, our thought leaders have highlighted the sizeable differentials in terms of survival and recovery after disasters among specific groups. These groups include the young, elderly, women, people with disabilities, and those living in economically deprived areas. In New Orleans following Hurricane Katrina, the fatality risk ratio for the over-75 group was around 80-times higher than for the under-18 group. Explore this topic further on the RMS blog’s “Resilience” channel.