Gallagher Re renews EQECAT agreement

Gallagher Re has signed a licensing agreement with risk modeler EQECAT Inc. to renew the use of part of the WORLDCAT enterprise catastrophe management software suite, to better manage client portfolio exposures to these perils. The programs renewed include EQECAT’s USWind, USQuake and US WinterStorm models.Rick Clinton, EQECT president says that its risk-modeling platform provides Gallagher Re with tools to assist them in better assessing client exposures.”Catastrophe models are one of the essential tools we must use when evaluating the risk within a portfolio whether for underwriting, risk and reinsurance assessment or capital purposes,” Gillian James, Gallagher Re chief actuary, says. “EQECAT’s software is an important addition to our peril modeling capabilities, enhancing our ability to construct a comprehensive picture of clients’ exposures to different natural perils.” Financial terms of the agreement were not disclosed.