Risk Management Solutions (RMS) has released its latest US and Canada tornado and hail models.

The upgrades will evaluate the risks associated with tornado and hail events in North America.

RMS designed the models to be used with Risklink catastrophe modelling platforms.

The models contain a set of almost 50,000 tornado and hail events and were developed specially to simulate intense events in metropolitan areas.

RMS managing director of global risk modelling Robert Muir-Wood said the company spent two years developing the models.

"The difficulty of modelling these hazards has required some major new research in understanding the structure of multiple thunderstorm outbreaks," he said.

Tornado and hail result in $5bn (£3.38bn) in insured losses in the US and Canada every year.