Benfield Licenses EQECAT’s Quake and Wind Models

EQECAT, Inc., announced that UK-based Benfield has entered into a multiyear renewal agreement to license all of EQECAT’s currently available “WORLDCATenterpriseTM” earthquake and wind models, covering 89 countries.

EQECAT said Benfield intends to use the models to assist clients in quantifying and understanding risk associated with an array of perils worldwide. Financial terms of the agreement were not disclosed.

EQECAT’s President Richard Clinton described how “delighted” he was by “Benfield’s decision to enter into this long-term, comprehensive relationship with our team. He also indicated that the decision reflects “the confidence of the insurance industry and investment community in our models, which are based on rigorous science and engineering research, and robust mathematical methodologies.

Source: EQECAT – www.eqecat.com