A California firm has announced a new online probability-based hurricane tracking system that estimates industry and portfolio-specific losses for individual storms before they hit the United States.
Risk Management Solutions of Newark, Calif. said it has developed RiskOnline, www.riskonline.com.
Bill Tuttle, RMS, vice president, product marketing said, "Not long ago, catastrophe management strategies were quite often based on a single, worst-case scenario. But one event doesn’t represent the entire spectrum of possible occurrences. Companies now see the value in using catastrophe models to derive a probabilistic distribution of loss."
