EQECAT announced today it has launched a catastrophe model for oil and gas platforms, pipelines and other offshore energy industry infrastructure in the Gulf of Mexico.
Rick Clinton, president of EQECAT–an Oakland, Calif.-based subsidiary of ABSG Consulting Inc.–said the Offshore Energy Model "will help insurers and energy producers quantify their offshore risks, which can lead to better pricing and use of capital."
In developing the Offshore Energy Model, EQECAT said it combined its extreme-risk modeling expertise with the offshore experience and the risk management expertise of ABS Consulting, which does extensive work with energy companies and the U.S. government.
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