Risk Management Solutions Inc. launched its anxiously awaited latest version of the RMS U.S. Hurricane Model–a launch that may give some risk managers and primary insurers pricing jitters.
Earlier this year, the Newark, Calif.-based company said its release would result in modeled annualized insured loss increases of 40 percent across the Gulf Coast and Florida. In addition, modeled loss increases of up to 30 percent could affect the Midwest and Northeast coastal regions.
Fitch Ratings analyst James Auden in Chicago said the new model could force those carriers with exposures “on the cusp” not to renew some business to keep in line with projections.
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