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Newark, Calif. – January 6, 2003 – Risk
Management Solutions (RMS), the world’s leading provider of products
and services for the management of natural hazard risks, today
announced the expansion of the weather databases in its Climetrix®
weather derivatives trading and risk management system to include
new temperature data for France, Sweden, Norway, and the United
States.
In partnership with Earth Satellite
Corporation (EarthSat), RMS has acquired both historical climate
data and ongoing daily feeds for the three European countries
directly from each country’s national meteorological service. Data
is initially being added to the Climetrix system for the main
trading hub in each country – Paris, Stockholm, and Oslo. Climetrix
users can now access official data for these locations for use in
pricing, portfolio risk management, and final settlement of weather
derivative contracts.
In the U.S., RMS has added a supplemental
database of cleaned historical data for 200 stations, doubling the
number of stations available in Climetrix to 400. This new dataset
provides weather derivative dealers and end-users with a much higher
density of locations throughout the country to choose from in
structuring transactions.
With the update, RMS now provides
quality-controlled historical and ongoing weather data for more than
500 weather stations globally. More information on the data
described in this release, including a complete station listing, can
be accessed at
http://www.climetrix.com/ProductServices/WeatherData.
About RMS
Risk Management Solutions is the world’s
leading provider of products and services for catastrophe, weather,
and enterprise risk management. More than 400 leading insurers,
reinsurers, trading companies, and other financial institutions rely
on RMS models to quantify, manage, and transfer risk. Founded at
Stanford University in 1988, RMS serves clients today from offices
in the U.S., Europe, and Japan. For more information, visit our
website at
www.rms.com.
Climetrix, RMS,
and the RMS logo are trademarks of Risk Management Solutions, Inc.
All other trademarks are property of their respective owners.
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