EQECAT Updates Modeling Software

NU Online News Service, Aug. 31, 3:28 p.m. EDT

Oakland, Calif.-based EQECAT said it has updated its WORLDCATenterprise modeling software to include relevant information about North Atlantic hurricanes, European floods and earthquakes--particularly in the Himalayan Frontal Thrust region and South America.

The updates are based on new science and data, EQECAT said.

"In addition to updating EQECAT's capabilities for a number of peril models, we have also made several enhancements to software functionality to provide clients with faster access to data and results," Bill Keogh, senior vice president of EQECAT, said in a statement. "These updates provide our clients with the benefit of the most up-to-date science and engineering advances and a robust platform to efficiently quantify and manage risks."

EQECAT said its North Atlantic Hurricane model was updated to be consistent with the National Hurricane Center's historic data as of June 1, 2008 and also included the complete 2008 hurricane season.

The modeling firm said it added insurable offshore energy infrastructure in the U.S. Gulf of Mexico to its U.S. Offshore Energy Stock. The data covers offshore platforms, drilling rigs and pipelines.

By using the data, EQECAT said, "clients will be able to gain an industrywide, ground-up view of energy risk in the Gulf of Mexico."

EQECAT's EuroFlood model moved to the WORLDCATenterprise platform from a related software platform, EQECAT said, which will result in faster run times and accommodation of larger portfolios.