SOURCE: CATEX

June 12, 2007 09:15 ET

CATEX-TV Launched Live

Internet TV Station Covers Reinsurance & Risk News

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.

Contact Information

  • US Contact:
    Frank Fortunato
    609-683-0888

    UK Contact:
    Tom Bailey
    207-663-5656