EQECAT Inc. in Oakland, Calif., announced Towers Perrin has signed a multiyear contract to use the firm's tornado/hail model to estimate loss potential for existing and prospective clients of its reinsurance business.
Financial terms of the deal were not disclosed.
EQECAT said its tornado/hail model can simulate more than 20 million tornadoes and 60 million hail streaks to provide a refined analysis of risk.
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