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2007 Press Releases
Find EQECAT press releases and company news from 2007.
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October 2007
Japan's chemical industry surprisingly could suffer financial losses equal to more than two years of pre-tax earnings, while the precision machinery and petroleum industries could suffer damage equal to more than one year of pre-tax earnings, from a very large earthquake, according to a just-completed study to be issued by ABSG Consulting Inc. (ABS Consulting) and its subsidiary, EQECAT.
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October 2007
Benfield Signs Multi-year Licensing Agreement for Use of EQECAT Catastrophe Management Software
EQECAT, announced today that Benfield (LSE: BFD), the world's leading independent reinsurance and risk intermediary, signed a multiyear renewal agreement to license all of EQECAT's currently available WORLDCATenterprise™ earthquake and wind models, covering 89 countries.
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October 2007
Benfield Licenses EQECAT's Gulf Of Mexico US Offshore Energy Model
EQECAT announced today that Benfield (LSE: BFD), has signed an agreement to license EQECAT's Gulf of Mexico US Offshore Energy Model to assist clients inquantifying and managing risk in that market.
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September 2007
EQECAT Issues Release 3.10, The Next Generation Atlantic Basin Hurricane Model
EQECAT, Inc., announced today the availability of Release 3.10 of EQECAT catastrophe management software, which includes its next generation model for Atlantic basin hurricanes
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September 2007
Typhoon Fitow has made landfall in Shizuoka prefecture, Japan. Landfall was approximately 100 miles south and west of Tokyo, and maximum sustained winds at landfall were approximately 75 knots (88 miles per hour), a medium Category 1 storm.
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September 2007
Strong Hurricane in Gulf Of Mexico Could Generate $65 Billion Offshore Energy Loss, Says EQECAT
EQECAT said today that a strong hurricane like Camille, a category 5 storm, with a track through the heart of Gulf of Mexico US offshore energy platforms, could generate energy producer damage and loss of more than $65 billion.
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August 2007
EQECAT, Wednesday afternoon (Eastern Time) said, based on current storm data provided by the National Oceanic and Atmospheric Administration (NOAA), cumulative insured losses from Hurricane Dean in two landfalls in Mexico will not likely exceed $250 million.
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August 2007
EQECAT Initial Estimates Of Insured Losses From Hurricane Dean
EQECAT, Sunday afternoon (eastern time) said, based on current storm information provided by the National Oceanic and Atmospheric Administration (NOAA), initial estimated insured losses from Hurricane Dean from the Lesser Antilles islands to Jamaica could range between $1.5 billion and $3 billion.
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July 2007
Willis Re Adopts EQECAT’s Offshore Energy Model for Risk Assessment in the Gulf of Mexico
EQECAT, said today that Willis Re, the reinsurance arm of global insurance broker Willis Group Holdings Limited (NYSE:WSH), has adopted EQECAT's Offshore Energy Model to assist clients in quantifying offshore energy risks in the Gulf of Mexico.
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June 2007
EQECAT Provides Risk Analysis Support for the Caribbean Catastrophe Risk Insurance Facility
EQECAT, announced today that it provided the hurricane and earthquake risk assessment, and the design of the parametric insurance contracts which supported the formation and operation of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) that became operational on June 1.
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June 2007
EQECAT, said today that the American Association of Insurance Services (AAIS) is using the firm's earthquake-risk analysis in rate filings across the United States.
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May 2007
EQECAT Launches Offshore Energy Model
EQECAT, announced today the launch of its state-of-the-art Offshore Energy Model for the Gulf of Mexico region.
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May 2007
EQECAT Hurricane Model Recertified By Florida Commission On Hurricane Loss Projection Methodology
EQECAT, announced today that the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) has recertified EQECAT’s Hurricane model for use in Florida.
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March 2007
Homeland Security Assistant Secretary for the Private Sector, Alfonso Martinez-Fonts Jr., will address the 2007 EQECAT Catastrophe Management Conference.
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March 2007
EQECAT to Provide Insurers with Model to Quantify Risks in Gulf of Mexico Offshore Energy Market
EQECAT's President, Rick Clinton, said today that as a result of a series of critical industry issues, the firm, a global leader in extreme-risk modeling, has created a state-of-the-art Offshore Energy Model to help the insurance industry manage this risk.
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January 2007
"EQECAT, Inc.'s ongoing analysis of internal data and authoritative external scientific research continues to indicate strongly that the risk for insured losses from hurricanes in the United States during the next decade -- the 'near-term' -- will be higher than the long-term average derived from more than 100 years of data," Rick Clinton, president, said today.
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January 2007
EQECAT said, based on its simulation of last week's European winter storm Kyrill, including currently available information provided by several European meteorological services, initial estimated insured losses in Western Europe range from about 2.5 billion euros to about 5 billion euros.