How better models can turn catastrophe risk into opportunity

Ahead of releasing a new marine model in May, Chris Folkman, of RMS, explains the three elements needed by models to turn marine catastrophe risks into innovation opportunities

It is well known that the story of global trade is the story of shipping. And it will remain so for the foreseeable future. In fact, the shipping industry is only getting more important with time. Look at the volumes: an estimated US$10 trillion of cargo was transported by sea in 2014 – quadruple that of 30 years ago.