EQECAT Post- Hurricane Dennis Estimates of Insured Losses

Oakland, CA

July 11, 2005

EQECAT, Inc., Oakland, Calif., the leading authority on extreme risk modeling, Monday afternoon (Eastern Time), said based upon current information, estimated insured losses resulting from Hurricane Dennis could range from $1 to $4 billion.

EQECAT's latest estimate is based upon landfall by Hurricane Dennis on the western Florida Panhandle and includes damage concentrated in Santa Rosa and Okaloosa counties in Florida (Ft. Walton Beach is in Okaloosa county).

This update represents a reduction in the loss estimate from the July 10, which was based upon expected maximum sustained winds at landfall of 130 miles per hour. Today's estimate reflects better observational information of wind speeds of 120 miles per hour at landfall. The assessment includes damage to residential and commercial structures--primarily from wind and flood. It includes damage to personal property, such as automobiles and boats.

EQECAT field teams will be sent to the impacted areas in coming days to make on-site inspections.

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

Back to Press Releases