Active hurricane seasons, like 2017, which brought unprecedented damage from Harvey, Irma, and Maria, remind us of the inherent uncertainty of natural hazards and the devastation they can cause. As we continue to see more volatile weather and storm patterns, we can appreciate the value that lies in catastrophe risk modeling. Certainly, it is impossible to predict when a catastrophe will strike, but modeling allows us to create a comprehensive risk management and preparedness strategy by identifying, and quantifying, the potential losses from hazard events that may affect your insured’s portfolio.
RPS Analytics offers in-house access to the industry-leading modeling company, RMS, utilizing state-of-the-art science and methodologies, to analyze commercial properties and industrial facilities for the following catastrophic perils:
- Severe Convective Storm (tornado, hail, straight-line wind, lightning)
Through data scrubbing and analysis, we deliver insights on both the strengths and weaknesses of each account, bolster information with secondary characteristic data, and provide scrubbed schedules for quicker import by carriers. Through modeling, we provide a comprehensive, consultative report for all stakeholders (insured, retailer, broker, and carrier), which includes AAL, PML tables, key drivers of loss, top locations, exposure maps, and a dashboard summary. We can also provide tornado history data and account specific hazard data, including non-certified flood zones, distance to coast, distance to fault, and liquefaction potential.