Those who were anticipating rates to harden due to substantial updates to Risk Management Solutions' (RMS) U.S. hurricane model say the impact has—so far—turned out to be less than expected.
RMS Version 11.0 “wasn't the driving factor that many people thought it would be when it came to renewals in January 2012,” says Insurance Information Institute President Robert Hartwig.
The updates to the cat model, which were based on analysis of billions of dollars in claims and reams of other data, increased wind-related loss estimates for noncoastal areas and even inland states.
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