RMS updates forecasting tools ahead of hurricane season peak

RMS has rolled out significant updates to its suite of HWind forecasting products, part of its HWind Real-Time Analysis solution.

Launched in 2019, the first version of these forecasting products for Atlantic tropical cyclones offered a product suite including an ensemble of forecast tracks, track and gust probability metrics, and individual wind hazard and corresponding loss scenario footprints for the following five days.

As forecasts for an above-average Atlantic hurricane season come in, re/insurers and brokers are working to establish what implications the next impactful event may have on their portfolio.

This 2020 Atlantic hurricane season, RMS HWind forecasting products have expanded significantly to further inform the markets with detailed insights throughout an event’s life cycle. Updates include the introduction of coastal storm surge data and forecasts, track intensity forecast maps, industry loss insights, and an increased frequency and variety of deliverables.

Pete Dailey, vice president, model development at RMS said, “If and when tropical cyclone activity escalates and storms threaten exposures at risk, it will become a hectic and fraught time for the market. Now is the time for companies to ready themselves and their hurricane event response processes as the climatological peak of the hurricane season approaches."

Image: NOAA

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