RMS
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The cat risk modeller’s estimate is well ahead of KCC’s $18bn, as RMS said infrastructure in the states impacted by Ida have “never experienced such a strong hurricane wind intensity”.
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The modeller said 70% of losses will come from Germany and a quarter from Belgium.
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The potential transaction is expected to complete in the third quarter.
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RMS model update points to ‘fairly large’ rise in hurricane losses for US Northeast and Mid-AtlanticThe RMS V21 model update for North Atlantic hurricane incorporated data from recent major loss years but overall annual average losses have only risen up to 10% across the US.
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Dimosthenis Tsaknias is to lead the InsurTech’s worldwide flood modelling.
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Version 21.0 of the model will become available to clients on June 23.
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The firm’s climate change models will allow users to model their portfolios under the four different emission pathways adopted by the Intergovernmental Panel on Climate Change.
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The catastrophe modeller made the estimate using a new climate change risk model.
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The firm said the outcomes differ by peril, region, and climate scenario.
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The models will be available in June initially for North Atlantic hurricane, Europe inland flood and Europe windstorm.
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No damage has been reported to the city’s nuclear power plant.
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California blazes including the Glass Fire have driven up the estimate considerably since September.