EQECAT News

Exclusive: California Broker Plans Parametric Quake Product That Pays Even If No Damage

A California broker is promising to bring a “first-of-its-kind financial resource” that pays homeowners after an earthquake for a low monthly premium whether there’s damage to the home or not. A Berkeley, Calif.-based firm called Jumpstart Insurance Solutions Inc. recently …

CoreLogic: Taking Big Data Analytics to New Customers and Consumers

Imagine an insured taking a photo of a property that gives underwriters every bit of information they need to assess the risk. CoreLogic is working to make that happen sooner rather than later. CoreLogic, a provider of property information and …

Early Insured Loss Estimates on Hurricane Gonzalo Up to $400M

Early estimates by catastrophe modeling firms indicate insured losses from Hurricane Gonzalo in Bermuda will come in between $200 and $400 million. EQECAT estimates $300 million in insured losses, about the scale caused by Hurricane Fabian in 2003. Both storms …

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 …