RMS adds Canadian weather data

Risk Management Solutions (RMS), the California-based provider of products and services for the management of natural hazard risks, has added Canadian temperature data to its Climetrix weather derivatives trading and risk management system.

The new dataset includes 50 years of daily measurements for 20 of the primary weather stations in Environment Canada's national meteorological network, and has been compiled and cleaned by RMS and its Maryland-based partner Earth Satellite Corporation, a provider of weather data services.

The historical data is supplemented in the Climetrix system with automated daily feeds of prior-day data, to enable traders and end-users to mark their weather derivative positions using the latest available information.

RMS director of business development, Steve Jewson, has previously told RiskNews that his firm provides two-thirds of the US weather derivatives market with its data, including Houston-based energy firm Enron, Bermuda-based weather risk company Element Re, as well as French bank Société Générale.

Separately, RMS has revamped its website, providing a password-protected client resources area for licensees of catastrophe products.

The new site provides clients with online access to technical documentation and catastrophe updates, as well as special reports on insurance losses and a glossary of natural hazard and insurance terminology.

Recently posted reports on the website include one addressing loss impacts in the area of the World Trade Center following the September 11 terrorist attacks.