Contact Information: US Contact: Frank Fortunato 609-683-0888 UK Contact: Tom Bailey 207-663-5656
PRINCETON, NJ--(Marketwire - June 12, 2007) - The Catastrophe Risk Exchange, Inc. (CATEX)
announced today that it had launched its live global television channel,
CATEX-TV, for users of its Pivot Point Reinsurance System and the public.
CATEX-TV, available at www.catextv.com, provides daily live broadcasts each
business day at 11:30 am EDT (1630 GMT). CATEX-TV provides breaking-news
bulletins as major stories with potential impact on the global insurance
market develop. The broadcast provides information and interviews of
interest to reinsurance underwriters, brokers and management.
CATEX-TV has been operating in a beta mode since April and has interviewed
a score of figures in the reinsurance community in connection with breaking
news stories. CATEX-TV sends notices to users of its Pivot Point Systems
throughout the world four minutes prior to a broadcast. Pivot Point
contains over 13,000 user roles, associated to authorized system users of
the reinsurance industry world-wide.
"We believe there is a need for live, non-static news as it affects the
risk industry," said CATEX CEO Frank Fortunato. "Other risk broadcast
efforts we examined were predominated by 'canned' programming that could be
showing an interview taped weeks ago while real time events were impacting
reinsurance prices."
"The Pivot Point System is a real time reinsurance system and the necessity
for users to access the latest information was a simple realization," said
Tom Bailey, CATEX Europe Managing Director, based in London. "We are hardly
the first to recognize that trading benefits from timely information," said
Bailey.
CATEX-TV broadcasts for 30 minutes each business day from its New Jersey
studios. The daily live broadcast is compiled by editors researching over
17 individual daily newspapers; global television feeds; corporate
web-sites and industry trade press. In addition the broadcast is derived
from news items found via the major Internet search engines which access
hundreds of thousands of sources.
Anyone with Internet access may view the broadcasts at www.catex.com each
business day at 1630 GMT (11:30 am EDT).
About CATEX-TV: CATEX-TV is an initiative of The Catastrophe Risk Exchange,
Inc. (CATEX). CATEX operates the CATEX Global Exchange, a Web-based
reinsurance marketplace, and develops and licenses the Pivot Point
Reinsurance & Insurance Transaction System. The company has been in
operation since 1994 and has offices in Princeton, N.J. and London.