Risk Management Solutions (RMS) will launch a new global model that assesses acute and continuous weather events and their climate change impact.

The catastrophe modeller says the expanded coverage will allow RMS to provide a correlated global analysis of future risks.

New analysis will monitor event frequency and severity for weather events in addition to assessing detailed risk factors for chronic events such as drought, sea-level rise and water stress.

“The effects of these risks will unfold over many years and will have many direct and indirect implications for both industry and society,” RMS GM Michael Steel said.

This is the latest expansion RMS has announced in assessing the increasing dangers of climate change.

“We are continuing to see growing demand for risk insights on acute and chronic perils and climate change,” Mr Steel said.

The expansion adds to RMS’ existing data modelling product which provides detailed analysis covering hazard scores and potential loss costs for locations at risk of acute and prolonged weather events.

RMS says that industry decision making can only be benefited from analytical insights for risk impacts of present and future climates, and says its products have been welcomed by the industry.