Insurers and others are increasingly and moving to a multiple-model strategy to handle the current volatile weather environment, according to the president of a catastrophe damage modeling firm.
Rick Clinton, president of Oakland, Calif.-based Eqecat Inc., said this is a wise focus and “a plan we have long suggested.” He said his firm is beefing up model capacities and planning to release a new platform.
Mr. Clinton said his firm has found that in the wake of frequent severe hurricane forecasts for the coming decade in the Atlantic Ocean, Caribbean Sea and Gulf of Mexico, insurers, reinsurers, corporations and government entities are placing increased importance on catastrophic risk models.
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