RMS Partners with Fireman's Fund Insurance Company on Study of Per Risk Fire Underwriting
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Monday 9 March 2009
Risk Management Solutions (RMS) has partnered with Fireman’s Fund Insurance Company, a member of the Allianz Group (NYSE: AZ), to conduct a new approach to quantifying the need for account fire reinsurance for its commercial insurance division.
“Fireman’s Fund® is undertaking this comprehensive analysis using the RMS® Account Fire Model to evaluate the effectiveness of various per risk reinsurance strategies relating to fire,” stated Mike Roney, vice president of commercial property insurance at Fireman’s Fund. “Through greater transparency of our fire risk, we can demonstrate our commitment to best practices in managing commercial account underwriting, lending more insight into reinsurance decisions.”
“This study reflects a shift in how the market is expected to do business in the future,” said Craig Van Anne, vice president at RMS. “The Account Fire Model offers transparency and consistency at the account and portfolio levels that have previously not been available due to limitations in current approaches.”
About RMS
Risk Management Solutions is the world’s leading provider of products and services for catastrophe risk management. More than 400 leading insurers, reinsurers, trading companies, and other financial institutions rely on RMS models to quantify, manage, and transfer risk. Founded at Stanford University in 1988, RMS serves clients today from offices in the U.S., Bermuda, the U.K., France, Switzerland, India, China, and Japan. For more information, visit our website at www.rms.com.