RMS, the Newark, Calif.-based catastrophe risk management firm, has added agricultural risk models for India and China to its line of emerging risks models, with plans to expand coverage across Asia-Pacific and the Americas.
The addition of the models is part of the company’s strategic focus to help its clients close the coverage gap.
“Countries throughout Asia-Pacific are experiencing rapid growth. RMS is committed to helping our clients’ success in these dynamic markets by providing a comprehensive suite of risk and analytics solutions,” said Steve Hurcom, senior vice president, client development Europe and Asia. “Agricultural risk is one of the top concerns and big opportunities for our clients in Asia-Pacific and Latin America, and they need robust models to manage the risk as part of their overall enterprise risk.”
Asia-Pacific and Latin America remain strategic priorities for RMS, said the company, noting that it is releasing significant modeling capability this year for local and global clients writing business in these regions.
The new agricultural risk models for India and China will be followed in April by updated earthquake models for Indonesia and the Philippines and four new earthquake models for Singapore, Malaysia, Thailand and Vietnam. Also in the pipeline are wind and typhoon models for Taiwan and South Korea, as well as the latest views of risk for marine and North Atlantic hurricane covering the Latin America region.
As part of RMS’s model development, its parent company DMGT has transferred all the model assets from its AgRisk business to RMS, the company said.