Risk modeling and analytics firm RMS has substantially expanded its suite of offerings for the Asia-Pacific region, adding typhoon models for South Korea and Taiwan as well as earthquake models for Vietnam, Singapore, Malaysia and Thailand.
In addition to wind, the new RMS South Korea and Taiwan Typhoon models explicitly model typhoon flood risk, including rainfall-driven inland flooding as well as coastal storm surge—all modeled at a high spatial resolution. The models allow for a highly granular differentiation of building vulnerability, reflecting different heights and construction types, with insights on the local insurance market and historical losses based on collaboration with local insurers on the ground. RMS’s typhoon modeling for the western North Pacific also includes China & Hong Kong, Japan and Guam.
The risk modeler’s four new earthquake models for Southeast Asia—in Singapore, Malaysia, Thailand and Vietnam—join existing models for the Philippines and Indonesia, enabling clients to accurately assess portfolio accumulations, reinsurance capacity, capital requirements and the risk to large accounts because the correlation and diversification of risk across and between countries can now be viewed consistently throughout the region. The models include an assessment of building characteristics, such as height, and the type of soil on which they are constructed, incorporating more than 1,000 country-specific vulnerability functions to differentiate their impact on potential losses.