Posts Tagged ‘Earthquake’
Guy Carpenter today released a new scenario risk report titled Tsunami Risk from Magnitude 9.4 Earthquake in Manila Trench. The report provides an in-depth study of the tsunami risk from a moment magnitude 9.4 earthquake along the Manila Trench, including the Hong Kong area, Taiwan, Kota Kinabalu, Macau, Manila and Vietnam. Among the regions studied in the report, the worst case scenario predicts the highest risks in southwest Taiwan, specifically up to 4 meters at the Port of Kaohsiung, Taiwan’s principal port and the sixth largest container port in the world.
Guy Carpenter today released its annual Global Catastrophe Review, which reports that insured losses in 2014 were at the lowest level seen since 2009. According to the report, significant insured losses in 2014 totaled approximately USD33 billion, a dramatic drop when compared to the historic insured losses seen in 2011, which totaled approximately USD126 billion.
Modeling methodologies for terrorism have been continually refined and updated since the three major modeling companies - AIR Worldwide (AIR), EQECAT and Risk Management Solutions (RMS) - released their first terrorism models in 2002. Quantifying the economic, insured and human losses from a terrorist attack continues to pose major challenges for (re)insurers and alternative capacity providers. There are three main techniques to model terrorism risk:
A 6.0-magnitude earthquake was reported by the U.S. Geological Survey (USGS) about 4 miles northwest of American Canyon, California and five miles north-northwest of Napa, California. The quake occurred at 3:20 a.m. local time (10:20 UTC) near the north shore of San Pablo Bay, with a magnitude of 6.0. The quake depth was 7.0 miles (11.3 km).
The 15th European Conference on Earthquake Engineering will take place in Istanbul, Turkey, on August 24 - 29, 2014. This very important event is held every four years and brings together the most renowned experts on seismology, vulnerability, risk and structural and geotechnical engineering. The most recent advances in the field of hazard and risk assessment, loss estimation and seismic design will also be presented and discussed.
A magnitude 6.9 earthquake was reported by the U.S. Geological Survey (USGS) about 1 mile from Puerto Madero, Mexico near the Mexico-Guatemala border on Monday. The quake occurred at 6:23 a.m. local time (11:23 UTC) on the Pacific Coast, with an initial magnitude of 7.1 but later corrected to 6.9. The quake depth was 37 miles (60 km). About 10 minor aftershocks were reported in the region triggering additional landslides.
GC Securities* Completes First Catastrophe Bond Issued By The World Bank On Behalf Of The Caribbean Catastrophe Risk Insurance Facility
GC Securities today announced the placement of Floating Rate CCRIF Catastrophe-Linked Capital at Risk Notes, with notional principal of USD30,000,000, issued by the International Bank for Reconstruction and Development, a member institution of the World Bank Group, to facilitate risk transfer on behalf of the Caribbean Catastrophe Risk Insurance Facility (the CCRIF). CCRIF is a risk-pooling facility that is designed to limit the financial impact on its sixteen Caribbean member governments resulting from catastrophic earthquakes and hurricanes by quickly providing financial liquidity when a policy is triggered. This is the first time that the CCRIF has utilized the cat bond market and the first catastrophe bond directly issued by the World Bank.