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NOTE TO EDITORS (AS OF SUNDAY, JULY 10, 2005, AT 3:45 P.M. EASTERN TIME)
EQECAT Updated Estimates Of Insured Losses From Hurricane Dennis
Storm “Strengthened” From Mid-Day Saturday
Insured Losses Of Strengthened Storm Could Range From $3 Billion To $8 Billion
EQECAT, Inc., Oakland, Calif., the leading authority on extreme risk modeling, Sunday afternoon (Eastern Time), said based upon current information provided by the National Oceanic and Atmospheric Administration (NOAA) about Hurricane Dennis, which strengthened between mid-day Saturday and landfall Sunday, estimated insured losses could range from $3 billion to $8 billion.
Hurricanes often make unexpected and dramatic changes in direction and intensity—both strengthening and weakening.
The EQECAT estimate is based upon landfall on the western Florida Panhandle.
EQECAT Representatives Available For Commentary
Representatives of EQECAT, headquartered in Oakland California, will be available throughout Sunday to provide commentary regarding Hurricane Dennis. For additional information, please contact Eric Samansky, The Samansky Group, at 516-319-0858.
Hurricane Model is Part of WORLDCATenterprise™
The EQECAT U.S. Hurricane model, which is part of WORLDCATenterprise™, was recently re-certified by the Florida Commission on Hurricane Loss Projection Methodology for use in Florida. Primary insurers, reinsurers, intermediaries, and other financial institutions use the model to develop strategies for pricing, portfolio management, and risk transfer.
EQECAT Serves Global Clients Through Extensive WORLDCATenterprise™
Through its user-friendly, extreme-risk modeling software, WORLDCATenterprise™, EQECAT enables clients to assess and manage potential damage and loss from wind, earthquakes, flood, wildfire, and terrorism, among other perils. WORLDCATenterprise™ includes 167 natural hazard software models for 88 countries spanning six continents.
EQECAT, and its parent ABS Consulting, serve the global property and casualty insurance industry, major multinational corporations and financial institutions. EQECAT is known as the technical leader and innovator in the development of analysis tools and methodologies to quantify insurers’ and major corporations’ exposure to natural and man-made catastrophic risk.
EQECAT was founded in 1994 and is headquartered in Oakland, California. For additional information, please log on to www.absconsulting.com, or www.EQECAT.com.
For more information, contact:
Thomas Larsen
EQECAT, Inc.
1-510-817-3100 | tlarsen@absconsulting.com
Eric R. Samansky
The Samansky Group
1-516-319-0858 | eric@samanskygroup.com
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