Several Japanese Industries Could Suffer Earthquake Damage Equal To More Than One Year Of Pre-Tax Earnings, ABS Consulting/EQECAT Research Study Reveals October 30, 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, Inc., the leading authority on extreme-risk modeling.
Benfield Signs Multiyear Licensing Agreement For Use Of EQECAT Catastrophe Management Software October 23, 2007
EQECAT, Inc., a subsidiary of ABSG Consulting Inc. (ABS Consulting), and the leading authority on extreme-risk modeling, 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 TM earthquake and wind models, covering 89 countries.
Benfield Licenses EQECAT's Gulf Of Mexico U.S. Offshore Energy Model October 16, 2007
EQECAT, Inc., a subsidiary of ABSG Consulting Inc. (ABS Consulting), and the leading authority on extreme-risk modeling, announced today that Benfield (LSE: BFD), the world's leading independent reinsurance and risk intermediary, has signed an agreement to license EQECAT’s Gulf of Mexico U.S. Offshore Energy Model to assist clients in quantifying and managing risk in that market. The Offshore Energy Model is part of EQECAT’s WORLDCATenterprise™ catastrophe management software platform.
EQECAT Issues Release 3.10, The Next Generation Atlantic Basin Hurricane Model September 18, 2007
EQECAT, Inc., a subsidiary of ABSG Consulting Inc., and the leading authority on extreme-risk modeling, announced today the availability of Release 3.10 of EQECAT catastrophe management software, which includes its next generation model for Atlantic basin hurricanes.
Strong Hurricane In Gulf Of Mexico Could Generate $65 Billion Offshore Energy Loss, Says EQECAT September 5, 2007
EQECAT, Inc., a subsidiary of ABSG Consulting Inc. (ABS Consulting), and the leading authority on extreme-risk modeling, said today that a strong hurricane like Camille, a category 5 storm, with a track through the heart of Gulf of Mexico U.S. offshore energy platforms, could generate energy producer damage and loss of more than $65 billion.
EQECAT Estimates Cumulative Insured Losses From Hurricane Dean In Mexico Should Be Less Than $250 Million
August 22, 2007
EQECAT, Inc., Oakland, Calif., the leading authority on extreme-risk modeling, 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.
EQECAT Initial Estimates Of Insured Losses From Hurricane Dean August 19, 2007
EQECAT, Inc., the leading authority on extreme-risk modeling, 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. The majority of the estimated insured losses are in Jamaica.
Willis Re Adopts EQECAT’s Offshore Energy Model For Risk Assessment In The Gulf Of Mexico July 10, 2007
EQECAT, Inc., a wholly owned subsidiary of ABSG Consulting Inc. (ABS Consulting), and the leading authority on extreme-risk modeling, 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. The Offshore Energy Model is part of its WORLDCATenterprise™ catastrophe management software suite.
EQECAT Provides Risk Analysis Support for the Caribbean Catastrophe Risk Insurance Facility June 11, 2007
EQECAT, Inc., a subsidiary of ABSG Consulting Inc. (“ABS Consulting”), 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.
EQECAT Launches Offshore Energy Model May 30, 2007
EQECAT, Inc., a wholly owned subsidiary of ABSG Consulting Inc. (“ABS Consulting”), and the leading authority on extreme-risk modeling, announced today the launch of its state-of-the-art Offshore Energy Model for the Gulf of Mexico region.
ABS Consulting/EQECAT Exhibits at 2007 Risk Insurance & Management Society (RIMS) Conference April 18, 2007
ABS Consulting/EQECAT is exhibiting at the 2007 Risk Insurance & Management Society (RIMS) Conference. The largest conference in risk management and insurance will be held April 29 – May 3, 2007, at the Ernest N. Morial Convention Center in New Orleans, Louisiana.
EQECAT to Provide Insurers with Model to Quantify Risks in Gulf of Mexico Offshore Energy Market March 8, 2007
EQECAT, Inc.'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. This model will be discussed during EQECAT's March Catastrophe Management Conference.
EQECAT Estimates Insured Losses From European Winter Storm Kyrill - Insured Losses Could Range From 2.5 Billion Euros To 5 Billion Euros January 24, 2007
EQECAT, Inc., Oakland, Calif., the leading authority on extreme risk modeling, Wednesday afternoon (Eastern time), said, based on its simulation of last week’s European winter storm Kryill, 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.
ILS Arrival Marks Fundamental Change, Insurance Day
Dennis Kuzak, SVP, EQECAT November 2007
“Innovation has proved to have been the primary driver in the growth of the insurance-linked securities (ILS) markets,” claims Dennis Kusak.
US Earthquake Risk, Bermuda Reinsurance
Kenneth Campbell and Mahmoud Khater, Co-authors, EQECAT November 2007
“In the second in a series of articles concerning US earthquake risk, Kenneth Campbell and Mahmoud Khater discuss seismic risk in the Pacific Northwest and Central US regions.”
California Earthquake Risk, Bermuda Reinsurance
Kenneth Campbell and Mahmoud Khater, Co-authors, EQECAT June 2007
"In the first of a series of articles about earthquake risk, Kenneth Campbell and Mahmoud Khater look at the causes and effects of seismic activity in California."
"Flash Report on the Niigata-ken Chuetsu-oki Earthquake" July 2007
On July 16, 2007 a major earthquake (Mjma = 6.8) occurred offshore, north of the Niigata-prefecture. The earthquake epicenter was located at latitude 37.5 degrees and longitude 138.6 (60 kilometers southwest of Niigata), which depth is 17 kilometers.
"Uses of Modeling in Workers Compensation," CAS Spring Meeting, Orlando, FL June 19, 2007
NCCI partners with EQECAT to model Catastrophe Perils. Tom Daley, Director and Actuary, NCCI, presented “Uses of Modeling in Workers Compensation” and discussed how EQECAT’s Workers Compensation computer modeling was used in Workers Compensation ratemaking.
June 4, 2007
Listen to Richard Clinton interview on EQECAT's core business in dealing with global risks, launching of the new EQECAT's offshore energy model, EQECAT's hurricane model recertification by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM), etc. Download the recorded interview now.
"A Sitting Duck," Global Reinsurance March 30-31, 2007
A magazine article written by Tom Larsen, Senior VP of EQECAT, regarding modelling perspective on the earthquake-prone Tokyo region, otherwise known as the Pacific Rim of Fire.
EQECAT's President, Richard Clinton, interviewed by Parachute Catastrophic Risk Update March 22, 2007
Listen to Richard Clinton discuss CAT modeling after Katrina, extreme weather risk management challenges and Securitization, an alternative risk transfer strategy. Download the recorded Webinar now. Catastrophic Risk Update is produced by Parachute in San Francisco, California.
EQECAT Commentaries
Validation And Update Of Hybrid Empirical Ground Motion (Attenuation) Relations For The CEUS, USGS Award Number: 05HQGR0032 Kenneth W. Campbell of EQECAT, Author September 2007
Ground motion models are the most common means of calculating peak ground motion parameters and response spectra in engineering practice. Where strong motion recordings are abundant, these models are empirically derived. Where the number of recordings is limited, they are developed typically from seismological models and constrained using weak motion data. This technical report for 05HQGR0032 is posted on USGS website.
Loss Estimates for a Puente Hills Blind-Thrust Earthquake in Los Angeles, California Kenneth W. Campbell of EQECAT, Hope Seligson of ABS Consulting, Coauthors
EERI paper that estimates losses due to a large earthquake on the Puente Hills fault using the publically available HAZUS loss-estimation software. These losses are not necessarily what our USQUAKE software would estimate, but SCEC required that we use publically available software for the project. This work is part of our continuing involvement in Southern California Earthquake Center (SCEC) research projects.
