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The industry should “stay tuned” as the revised catastrophe model from Risk Management Solutions rolls out, the chief executive officer of RenaissanceRe told NU Online News Service, describing the model changes and potential market impacts as meaningful.

Reinsurance demand remains stifled because primary insurers have tighter reinsurance budgets and lower volumes due to reduced economic activity--and this is not expected to change due to catastrophe model revisions, according to Moody's.

Revisions in catastrophe models most likely won't offset the lack of demand in the reinsurance market, Moody's Investor Service said today.

The planned revisions of a catastrophe model could cause interesting changes to the way the industry prices its property insurance, according to executives at the Property and Casualty Insurance Joint Industry Forum in New York City.

The planned revision of a catastrophe model set for early spring 2011 could impact reinsurance pricing on Jan. 1, and property insurance prices in coastal and inland areas, according to an analyst.

Risk Management Solutions (RMS) announced it is to bringing high-performance computing (HPC) to the industry through its new Enterprise Grid Computing software.

Catastrophe models insurers use to assess risk could help governments and aid agencies develop new approaches for sustainable development and poverty alleviation, said Rowan Douglas, chairman of the Willis Research Network.

BOSTON--Risk managers, insurers, reinsurers and brokers will have help assessing catastrophe risk to industrial facilities with new studies and model enhancements, AIR Worldwide (AIR) announced here this week.