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Almost every discussion of 2012 reinsurance rates for U.S. property risks touches on major changes in catastrophe models—both the recently released Risk Management Solutions (RMS) version 11.0 U.S. Hurricane Model; and, to a lesser extent, AIR Worldwide’s revisions released last year but only now making their way through the system.

James Vickers, chairman of Willis Re International & Specialty, is one of a number of experts who believes the RMS changes already have had some upward impact on pricing on certain mid-year U.S. property-catastrophe renewals—and he expects this trend to continue in the Jan. 1, 2012 renewals. 

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