General Information:

Author: Risk Management Solution Inc. (founded at Stanford University)

Year of publication: 2014

Available languages: English

Details of Assessment:

Type of assessment: Comprehensive impact and risk assessment

Format of assessment: Software

Estimated costs for conducting: No information

Estimated duration of assessment: No information

To be carried out by whom: Private individuals and firms

Institutional scale of use: Continental

Details: Enterprise level

Assesment to be used by which target audience: Private sector representatives/SME owners

Details: Insurers, reinsurers, intermediaries

Output: Report


Coverage & Methodology:

Region of origin: North America

Developed by which sector: Science

Applied in practice: Yes

Geographic coverage in analysis: Worldwide

Potential geographic coverage: Worldwide

Sectors covered: Financial sector

Method used: Quantitative model

Description of methodology: A computer-based model that assesses the impact of natural or human-made catastrophes, estimates physical damage to property and contents, and assigns probabilities to the range of possible outcomes, to estimate financial loss from such perils as earthquakes, hurricanes, winter storms, infectious disease, or acts of terrorism.

Risk framework used: Broad risk mapping according to different definition

Hazards and impacts considered in the assessment: Cyclone (including tropical storm, hurricane and typhoon), Flood, Wildfire

Details: Complete reconstructions of historical events

Participatory elements: Partly

Details: From the executive to the underwriter, users can interact with and interpret data and results to find the answers that drive better risk management decisions

Consideration of interconnectedness and -dependencies of risks: Yes

Adressing uncertainty: Yes

Details: Insight into uncertainity: RMS models, delivered in RMS(one)™, are built with the agility to access and adapt to ongoing learning, the capacity to understand and test assumptions, and the flexibility to build your own view of the risk, leveraging your own experience and knowledge.

Scope of assessment: Identification of risks

Relevance for losses and damages:

Economic/Non-Economic losses incorporated: Both

Applicability for entire risk spectrum (from extreme weather events to slow onset processes): No


Recommendations for Adaptation measures included in Climate Risk Assessment: No

Applied by whom: Not specified

Open access: Only brochure of the digital tool is open access