Eqecat, Inc.==the Oakland, Calif.-based catastrophe modeling firm==said today that Lloyd's had signed a licensing agreement to use the firm's WORLDCATenterprise software for its catastrophe risk assessment.
Terms of the deal were not disclosed.
Tom Larsen, Eqecat's senior vice president, said the license is for the Lloyd's central entity, which is responsible for maintaining the fiscal adequacy of its 62 underwriting syndicates. It will be used to assess individual syndicate aggregate risk exposures in the areas where they write business and compare it with their capacity, he explained.
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