RMS releases Asia-Pacific datasets
Catastrophe risk management firm RMS has released economic exposure datasets (EEDs) for five countries in the Asia-Pacific region.
The datasets include economic exposure databases and industrial clusters catalogues (ICCs), for Hong Kong, Indonesia and Malaysia, as well as high-resolution EEDs for Japan and New Zealand.
“While exposure data is considered relatively detailed in Japan and New Zealand, that detail cannot always be passed along the risk transfer chain,” said Pooya Sarabandi, senior director of modelling at RMS. “Aggregate data is often used as a substitute, which can lead to inaccuracies in risk assessment. With high-resolution EEDs, companies will be able to use the new RMS data to reveal where they are under or overexposed, identify growth opportunities and strengthen underwriting.”
Following the Canterbury Earthquake Sequence in 2010 and 2011 in New Zealand, building exposure has significantly changed in Christchurch. More than 8,000 commercial and residential buildings were either destroyed during the event or demolished in the reconstruction efforts. The new datasets detail post-earthquake exposure in the region.
The new suite of high-resolution exposure data provides nationwide coverage of building replacement values at the Chome and city/ward levels in Japan, and by census meshblock and postal code in New Zealand.