EQECAT, Inc. Corrects and Replaces Previous Announcement which ran on 7/20.Business Editors NOTE: The following news release replaces and corrects the previous EQECAT, Inc. news release, which ran earlier Thursday (7/20) on Business Wire, BW0877 (CA-EQECAT) OAKLAND, Calif.--(BUSINESS WIRE)--July 20, 2000 EQECAT and AER Announce Advanced Hurricane Forecasting System EQETrac EQECAT, Inc. and Atmospheric and Environmental Research, Inc. (AER) announced the availability of EQETrac(TM), an advanced proprietary real-time hurricane forecasting system. This system provides subscribers with probabilistic (probability) probabilistic - Relating to, or governed by, probability. The behaviour of a probabilistic system cannot be predicted exactly but the probability of certain behaviours is known. Such systems may be simulated using pseudorandom numbers. estimates of hurricane landfall land·fall n. 1. The act or an instance of sighting or reaching land after a voyage or flight. 2. The land sighted or reached after a voyage or flight. locations, windspeed at landfall, industry damage and loss estimates, and other storm parameters in advance of landfall. Subscribers also have the option of receiving a probabilistic estimate of their own portfolio's damage and loss from the impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. storm. All information is transmitted in a secure manner over the Internet. EQETrac(TM) uses a proprietary hurricane track forecasting system developed at AER, using work done at MIT MIT - Massachusetts Institute of Technology . It is based on a physical storm model that couples the atmosphere and ocean layers and runs in ensemble mode. This design provides a clear picture of the probabilistic development of the storm's direction and parameters. These forecasts are then fed into the EQETrac(TM) Storm Analyzer System to develop a single probabilistic expression of the storm's location, magnitude, damage, and loss. The EQETrac(TM) Storm Analyzer uses EQECAT's hurricane model, USWind(TM), and industry property database, EQEStock, to develop the damage and loss estimates. "We are very excited to be offering this service to our customers," said Dr. James J. Johnson, Chairman of EQECAT, Inc. "It also demonstrates EQECAT's confidence in our catastrophe modeling
AER (www.aer.com) performs climate research and consulting in areas of weather prediction, radiation and climate, satellite meteorology meteorology, branch of science that deals with the atmosphere of a planet, particularly that of the earth, the most important application of which is the analysis and prediction of weather. , remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. , circulation diagnostics, atmospheric chemistry, planetary sciences, atmospheric sounding, and systems engineering. In addition to its Cambridge, MA headquarters, AER has offices in Washington, DC, San Francisco, Los Angeles, Hong Kong, and Beijing. EQECAT, Inc. (www.eqecat.com) is a subsidiary of EQE EQE Equivalent Quantum Efficiency EQE Environmental Quality Evaluation International (www.eqe.com), a member of the ABS Group of companies. EQECAT is the leading catastrophe modeler and consultant to the insurance and financial services industries. EQE International, founded in 1981, is the world's leading risk management and information company for catastrophic risks. EQE, headquartered in Oakland, CA, has over 600 employees worldwide |
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