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News focus - Weather risk - RMS introduces new wind-risk modelling for Europe.
(From Reinsurance)
Risk Management Solutions (RMS) has announced the launch of a new platform for quantifying wind-related risk in 12 European countries.
Meteorological modelling has been extended to include a comprehensive suite of wind events, enabling loss calculations both from large-scale extra-tropical winter storms, such as windstorms Anatol, Lothar and Martin in 1999, as well as from smaller-scale summer thunderstorm events such as the Birmingham tornado in 2005. The model has also been extended to include Norway, Austria and Switzerland, allowing modelling from Ireland in the west across Scandinavia to Germany and Switzerland in the southeast.
A combination of numerical and parametric modelling is used to capture the intricate windfield structures typical of European windstorms. This modelling methodology also served to develop a full set of possible windstorm events with realistic tracks, frequency and severity distributions over a long-term simulation - essential for a fully probabilistic assessment of windstorm risk.
RMS has been evaluating the use of numerical modelling technology and its applicability to catastrophe modelling for several years, explains Dr Steve Jewson, head of the RMS climate hazards modelling team: "Numerical modelling is a highly powerful tool to help reconstruct past meteorological events at high resolution and understand the development and lifecycles of these complex events, while statistical ...
- RMS Releases Comprehensive Europe Windstorm Model for Underwriting and...
- Press release article from: PR Newswire May 30, 2006 700+ words
...to catastrophe modeling for several years, explains Dr. Steve Jewson, head of the RMS Climate Hazards modeling team: "Numerical...resolution hazard calculations, employing RMS' Variable Resolution Grid technology, as well as updated modules for the classification...
- RMS Expands Capabilities of Climetrix(TM) Weather Derivatives System.
- Press release article from: PR Newswire June 3, 2002 700+ words
...capability, Climetrix can be used by end-users or originators to structure and price a broad range of potential transactions. Steve Jewson, director of business development, commented, "As the weather market has grown, there has been increasing interest in...
- Patton on target.(News)
- Newspaper article from: Evening Chronicle (Newcastle, England) April 13, 2005 700+ words
...minutes remaining, but there was an element of luck since the ball hit the crossbar and rebounded into the net off goalkeeper Steve Jewson. Boldon CA won the South Tyneside derby with Cleadon SC. Gordon Williams gave them the lead but there was only a minute...
- Wearside League.(News)
- Newspaper article from: Evening Chronicle (Newcastle, England) April 6, 2005 700+ words
...Jarrow could only share the points with Shotton Comrades. Dean Patton beat the off-side trap and rounded goalkeeper Steve Jewson eight minutes before the break, but Shotton levelled through Lee Buck. Wolviston, who have not won since November, gained...
- RMS Releases Final Regional Weather Index Values for 2003 Summer Season.
- Press release article from: PR Newswire October 2, 2003 700+ words
...summer, while businesses in the eastern half that are adversely affected by cold weather will also have suffered," said Steve Jewson, director of RMS' weather risk business. "This clearly emphasizes the benefit that weather-sensitive businesses can...
- RMS Releases Final U.S. Regional Weather Index Values For 2003 Winter Season;...
- Press release article from: PR Newswire April 6, 2004 700+ words
...seasons, most regions of the United States alternated between near-record warm and near-record cold temperatures," said Steve Jewson, director of RMS' weather risk business. "This winter we saw a return to 'normal.' While individual months may have...
- RMS upgrades Climetrix system.(Technology Tools)
- Magazine article from: Claims December 1, 2004 700+ words
...contract valuations that result from different modeling assumptions and to price any deal available in the market," said Steve Jewson, director of weather business development at RMS. "In addition, the inclusion of weather forecasts from AER, CustomWeather...
- RMS Upgrades Climetrix(R) Weather Derivative System to Support Hourly Weather...
- Press release article from: PR Newswire October 12, 2004 700+ words
...Climetrix will allow users to model and price increasingly complicated weather deals in a matter of minutes." According to Steve Jewson, director of weather business development at RMS, "Climetrix allows our clients to see the spread of contract valuations...