EQECAT Hurricane Model Re-Certified By Florida Commission on Hurricane Loss Methodology - EQECAT Model Certification Is Ninth Consecutive
May 19, 2006
Oakland, California
EQECAT, Inc., the authority on extreme-risk modeling, today announced the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) has unanimously re-certified EQECAT's Hurricane model for use in Florida.
"EQECAT has been certified by the FCHLPM nine consecutive times," said Tom Larsen, Senior Vice President, of EQECAT. "Our number one priority is to provide the very best tools, based upon the most current science and engineering, and support to our clients so they can efficiently manage their books of business across a range of global perils."
"In addition to the enhancements made to our models to effectively support the needs of the market, our models are user-friendly and able to be easily integrated into various corporate risk assessment platforms used by the insurance industry," he said.
Hurricane Model Met All Requirements From Validation to Statistics
The EQECAT Hurricane model met all requirements established by the FCHLPM, including those covering vulnerability, validation, computing, statistics, and the actuarial use of modeled loss costs.
Released in 1994, EQECAT's US Hurricane model has undergone five major upgrades and is used by primary insurers and reinsurers, as well as financial institutions and intermediaries for portfolio management, pricing, and risk transfer planning.
EQECAT, Inc. provides state-of-the-art products and services to the global property and casualty insurance, reinsurance and financial markets. EQECAT is the technical leader and innovator of catastrophe risk management models that quantify exposure to a range of natural and man-made catastrophic risks.
Through its modeling software platform, WORLDCATenterprise, EQECAT enables clients to quantify and manage the potential financial impact of natural hazards. WORLDCATenterprise includes 181 natural hazard software models for 95 countries spanning six continents. These models are based upon innovative applications of the latest science, engineering expertise, claims and exposure data and advanced mathematics.
EQECAT, a subsidiary of ABSG Consulting Inc., was founded in 1994 and is headquartered in Oakland, California.
For more information, contact:
pr@eqecat.com