Modelling firm Risk Management Solutions (RMS) has announced the launch of an earthquake modelling package for India.

Built in partnership with Aon Re Asia and RMSI, RMS says the product will allow access to detailed data on insured exposure, soil data, inventory, and local building standards.

"The continual growth and maturation of the Indian insurance industry, combined with the significant seismic hazard in the country, served as a call to action for RMS to expand on the model suite in Asia to include India," said Domenico del Re, Asia Pacific model manager at RMS.

"2007 represents a turning point in the property and casualty insurance market in India, as the tariff system previously in force is being lifted, opening the market to a new competitive environment."

RMS said the source model contains nearly 100 seismic sources, subdivided into thousands of faults capable of generating over 40,000 different earthquake scenarios.

Loss profiles have been generated at CRESTA level countrywide, and at the more detailed district level in Maharashtra and Gujarat, where exposure and hazard are highest.