Risk Management Solutions (RMS) has released the 2004 version of RiskOnline, its web-based system which tracks potential insurance losses associated with individual storms in the US.
The RiskOnline service is a probability-based storm tracking system that estimates industry and portfolio-specific losses for individual storms in the US.
The system uses updates from the National Hurricane Center to filter and assign probabilities to help develop landfall statistics along the US coastline, and assign loss estimates to the event.
“Following the trend of recent years, all the major forecasting groups predict 2004 will have an active season, with tropical cyclone development above the long-term average,” said Robert Muir-Wood, chief risk officer at RMS.
“Real time storm tracking and comprehensive loss modeling services are essential tools for underwriters and claims managers who must stay on top of events as they evolve,” he added.
