Risk Management Solutions (RMS) has announced that it will bring high-performance computing to CAT modeling through its new Enterprise Grid Computing software.

Enterprise Grid Computing, which integrates the RMS RiskLink modeling platform with Microsoft's Windows HPC Server, enables computing resources to be used much more efficiently, with more flexible job and resource management and faster analysis run times providing deeper insight into modeled results.

In July, AIR Worldwide released the latest version of the AIR Hurricane Model. Version 12.0 includes extensive updates to the hazard and vulnerability components of the model that incorporate the latest science, data, and detailed claims information from recent storms to provide a more comprehensive and realistic view of U.S. hurricane risk. The model's hazard module incorporates improved knowledge of the full 4-D structure of hurricanes, including the development of the storm footprint over time, the rate of the decrease in wind speed moving away from the eye of a hurricane, and the relationship between upper-level and surface winds.

And the Institute for Business & Home Safety (IBHS) in August announced that construction of its research center in South Carolina was nearly complete and that-as of press time-the facility should now be operating. The research center is the only one of its kind in the world, designed to accurately create severe weather events such as Category 1, 2 and 3 hurricanes, other types of high-wind events, wind-driven rain, hailstorms and wildfires. IBHS researchers will conduct full-scale testing of residential and commercial structures in the facility's 21,000 square-foot test chamber.

With all the change going on, it's important to closely monitor developments. "To stay on top of changing models, carriers should take advantage of the extensive educational resources modeling vendors have available to help their carrier clients understand the latest changes," says Karlyn Carnahan, principal, insurance, at New York-based Novarica. "Additionally, reinsurance brokers are a good resource, as they typically have departments focused on modeling and CAT management and can provide these services for a carrier."