EQECAT News

Experts: New Normal Creating Need for More Predictive Modeling

A “new normal” has created the need for the catastrophe modeling to move from historic to predictive methods of looking at extreme weather risk, according to a panel of risk experts speaking Tuesday at the annual Chartered Property Casualty Underwriter …

Lloyd’s U.S. Chief on Board with Climate Change

Despite risking offense to non-believers, Hank Watkins didn’t hesitate when he was asked if climate change was upon us. Watkins, president of Lloyd’s America, talked about an extensive report Lloyd’s of London just released, “Catastrophe Modeling and Climate Change.” “Everybody …

CoreLogic Acquires Catastrophe Modeling Firm Eqecat

CoreLogic, an Irivine, Calif. company that provides the insurance, financial services and real estate industries with data and analytics, has acquired catastrophe modeling firm Eqecat from ABS Group. Alyson Austin, CoreLogic spokesperson, said the transaction closed on Dec. 20. The …

EQECAT: Colorado Floods $2B in Economic Losses and Climbing

The floods in Colorado caused an estimated $2 billion in economic losses, according to a report from catastrophe modeling firm EQECAT. The flooding has been blamed for multiple fatalities, it’s estimated 1,500 homes have been destroyed, and some 20,000 homes …

Eqecat Agrees to Share Exposure Data Schemas With RMS

Catastrophe modeling firm Eqecat announced that it has finalized an agreement to share exposure data schemas with another major catastrophe-modeling firm, Risk Management Solutions (RMS). The agreement recognizes the need in the industry for a data standard, according to the …

EQECAT: Likely No Damage From Two California Quakes

According to EQECAT’s CatWatch on two moderate sized earthquakes in California this week there should be little to no damage is expected. Two moderate sized earthquakes were felt in California: a magnitude 5.7 in Northern California on May 23 and …

Former Eqecat President Keogh Joins Reinsurance Broker TigerRisk

Bill Keogh, who last week resigned as president of catastrophe risk modeling firm Eqecat, has joined reinsurance broking and risk/capital management firm TigerRisk Partners. Keogh joins TigerRisk as a partner and will be a member of the corporate Decision Support …

Keogh Resigns as Eqecat President; Little Named to Succeed Him

Bill Keogh has resigned as president of catastrophe risk modeling firm Eqecat, according to the company, and Paul Little has been named to succeed him.The company said Keogh resigned to pursue other insurance interests. Keogh was named president in November, …

RMS’s Sandy Insured-Loss Estimate Is $20-$25 Billion, WSJ Reports

Catastrophe modeling firm Risk Management Solutions’ insured loss estimate for Sandy would be in the range of $20 billion to $25 billion, according to a report from The Wall Street Journal.RMS has not yet published its estimate publicly as of …

Power, Transit Outages Could Make Sandy 2nd-Costliest Storm in U.S.

Widespread power outages and subway shutdowns may wind up making Superstorm Sandy the second most expensive storm in U.S. history. That would rank it right behind Hurricane Katrina. Eqecat said last week that the damage from the storm will likely …