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RMS to incorporate climate change into its catastrophe risk models

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Catastrophe risk modelling firm RMS is set to incorporate climate change more fully into its main suite of risk models, with climate change models expected for the RMS North Atlantic Hurricane, Europe Inland Flood and Europe Windstorm models by June. It’s an important step, as the insurance and reinsurance focused catastrophe risk modellers have been falling behind when it comes to providing the level of climate change and climate related insights companies and their investors are now demanding.

This is especially important for the insurance-linked securities (ILS) market, which is increasingly looking to embed environmental, social and governance (ESG) practices into their business models.

RMS said today that its new suite of climate change models will help clients to, “assess the near and long term impacts of climate change on physical assets and their businesses, in order to make the best possible risk and financial decisions.”

RMS CEO, Karen White commented, “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. With increasing Board-level attention, stakeholder scrutiny, and […]

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