Risk Management Solutions (RMS) said it has issued a set of instructions and tools designed to assist Lloyd’s Syndicates in completing the 2004 Lloyd’s Realistic Disaster Scenarios (RDS).
It said the RDS analysis could be performed using the RiskLink catastrophe modelling software from RMS.
The company said its RiskLink product would allow Syndicates to respond appropriately to Lloyd’s RDS for:
· Windstorm and earthquake perils, RMS has provided syndicates with a listing of scenario events available within RMS models that correspond to the 2004 compulsory RDSs. These RMS events reflect updates issued by Lloyd's in 2004 for Florida Hurricane and California Earthquake.
· For terrorism, RMS has provided syndicates with target building and damage footprint information in order to generate event loss estimates using the RiskLink accumulation management capabilities. In addition, tools have been provided to assist with the analysis of exposure geocoded at the postal code level, a new requirement in 2004.
“Our presence in the Lloyd's market allows us to craft products that meet the specific needs of our clients,” said Matthew Grant, managing director of the RMS international region.
“Responding to the Lloyd's RDS is an important exercise for both our clients and for Lloyd's and we are committed to supporting this market with products that streamline the process to provide accurate loss estimates.
