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OAKLAND, Calif.--EQECAT Inc. said Monday that an ongoing review of its catastrophe models combined with "authoritative" scientific research indicates there is an increased risk for insured losses stemming from hurricanes striking the United States during the next decade.
"We believe this assessment should be considered by insurance companies, policyholders, rating agencies, investors and regulators as we move through future hurricane seasons," said Rick Clinton, president of the Oakland, Calif.-based modeling company, in a statement.
EQECAT's forecast for increased hurricane activity over the next 10 years stems from looking at more than 100 years of historical weather data along with recent sea surface temperature data.