RMS has published a new report examining the current state of cargo modeling in the marine market, and providing a new cargo-specific approach to the assessment of vulnerability and port accumulation. The report “Marine Cargo Catastrophe Modeling: Navigating the Challenges, Charting the Opportunities” precedes the May 2016 launch of the RMS Marine Cargo Model, the industry’s first marine cargo and specie risk model. In the last four years, records have been broken twice for total insured marine losses—first for Hurricane Sandy in 2012 at $3 billion, then the explosions at Tianjin last year, reported to be $5-6 billion. While these two events have underscored the need for the industry to a develop a much deeper understanding of the risks…