OAKLAND, Calif. -- (BUSINESS WIRE) --

EQECAT, Inc. is proud to announce that its basin-wide Asia Typhoon Model has been named "Innovation of the Year" at Asia Insurance Review's Asia Insurance Industry Awards. The "Innovation of the Year" award honors the "operation that generated the most innovative approach to a significant business area."

According to Bill Keogh, EQECAT's senior vice president, strategic initiatives, EQECAT developed its basin-wide Asia Typhoon Model because it recognized clients' need for a robust and transparent model that characterizes risk appropriately in this area.

"EQECAT helps our clients set rational expectations about risk," Keogh said. "We realized re/insurers with exposure in this region needed a basin-wide Asia typhoon model to best assess their risk, and we delivered."

EQECAT's basin-wide Asia Typhoon Model, released in July 2010, features the widest available geographic coverage of the basin: more than 12 million square miles, including Japan, China, Hong Kong, Taiwan, South Korea, the Philippines, Thailand and Malaysia.

The model provides a holistic view of risk, featuring the clustering of events, which translates into better loss estimates for annual aggregate risk - and enables re/insurers to explicitly understand correlation, risk differentiation and pricing, risk aggregation and portfolio risk management across this enormous region. It also provides a comprehensive view of the typhoon hazard, including effects of wind, storm surge and typhoon rainfall-induced flooding.

Learn more about EQECAT's Asia Typhoon Model for the western Pacific.

EQECAT, Inc. provides state-of-the-art products and services to the global property and casualty insurance, reinsurance and financial markets. EQECAT is the technical leader and innovator of catastrophe risk management models that quantify exposure to a range of natural and man-made catastrophic risks.

EQECAT, a subsidiary of ABSG Consulting, Inc., was founded in 1994 and is headquartered in Oakland, Calif. Visit www.eqecat.com for additional information.

CONTACT:

For EQECAT, Inc.:
Beth Starrantino, 856-649-8970
bstarrantino@startoplin.com