RMS, Japanese Partner Complete Cat Exposure Model

Menlo Park based, Risk Management Solutions (RMS) and its Japanese partner OYO Corporation announced that their joint venture, OYO RMS, has completed “a detailed natural hazard risk analysis for the National Mutual Insurance Federation of Agricultural Cooperatives (Zenkyoren), which manages the largest insured catastrophe portfolio in Japan.”

“OYO RMS performed a comprehensive analysis of typhoon, earthquake shake, and fire-following earthquake risk using the RMS RiskLink (R) detailed loss module for Japan with postal code level exposure data covering 15 million policies,” said the announcement.

The model incorporated claims data from typhoons and the 1995 Kobe earthquake. Zenkyoren paid a large percentage of these claims. The “improved understanding of Zenkyoren’s nationwide earthquake and typhoon exposure will be incorporated into a future enhancement of the RMS Japan models.”