Summary A pair of significant earthquakes struck the Searles Valley, California area (Kern County) on July 4 and 5, 2019, according to the U.S. Geological Survey (USGS). On July 4, an estimated Mw 6.4 earthquake occurred approximately 11 miles (18km) ENE from Ridgecrest (population approximately 28,000) around 10:33 AM local time. This was followed by a larger Mw 6.9 ... Continue Reading »
Earthquake
Mw 6.7 Earthquake – Near Coquimbo, Chile
A magnitude (Mw) 6.7 earthquake was reported near Coquimbo, Chile around 01:32 UTC January 20, according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 53 km (33 miles) and about 15 km (9 miles) SSW of Coquimbo, Chile, between the regions of Atacama and O’Higgins. Media reports to date indicate variable damage to property and infrastructure, a ... Continue Reading »
Taiwan: Catastrophe Insurance and Gap in Coverage
Taiwan has experienced a series of extreme weather events in recent years, which are expected to continue into the future, says the report 14 Shades of Risk In Asia-Pacific: Evolving Risk Concerns in Asia-Pacific by Marsh & McLennan Companies’ Asia-Pacific Risk Center. ... Continue Reading »
GC Capital Ideas: CAT-i Stories: Fourth Quarter 2018
Here is a look back at the CAT-i articles from October 1 through December. Mw 7.0 Earthquake – Near Anchorage, Alaska: The magnitude (Mw) 7.0 earthquake near Anchorage, Alaska, on November 30 occurred at a depth of 44.1 km as the result of a slip on an intraslab fault within the subducting Pacific slab. According to the United States Geological Survey, the faulting involved a ... Continue Reading »
Mw 7.0 Earthquake – Near Anchorage, Alaska
A magnitude (Mw) 7.0 earthquake was reported near Anchorage, Alaska around 17:29 UTC on November 30 (8:29 local time), according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 44.1 km and about 12.9 km (8.0 miles) north of Anchorage, Alaska. A tsunami warning was issued but later lifted by the U.S. National Weather Service. Initial media ... Continue Reading »
Mw 6.6 Earthquake – Iburi, Hokkaido
A magnitude (Mw) 6.6 earthquake struck the island of Hokkaido in northern Japan at 18:07 UTC on September 5 (03.07 JST on September 6), according to the U.S. Geological Survey (USGS). The epicenter was located at a depth of 33.4 km in the Iburi Subprefecture, about 20 km east of the coastal city of Tomakomai and 62 km southeast of Sapporo. No tsunami warning was issued. The ... Continue Reading »
Volcanic Eruptions: A Complex and Largely Overlooked Risk
Delioma Oramas-Dorta, Catastrophe Risk Analyst Contact Volcanic eruptions are complex phenomena that may affect populations and economies in ways we may not be familiar with. Large volcanic eruptions can spew ash spreading hundreds or even thousands of kilometers; and deposited ash may damage buildings at different levels, from catastrophic structural damage in extreme cases of ... Continue Reading »
Hawaii Volcanic Activity
Event Summary On Thursday, May 3, the Island of Hawaii experienced an eruption in the Kilauea volcano summit. Two large earthquakes occurred the following day among hundreds of smaller quakes and some large aftershocks. There have been a total of 10 fissures confirmed so far by the County of Hawaii, with an estimated 387,000 square feet of lava spread. At least 35 structures ... Continue Reading »
Asia Pacific Catastrophe Report 2017: Executive Summary: Losses
Insured losses in Australia and New Zealand were the largest events. The region was also impacted by floods in China, India and Thailand and an earthquake in China. Once again, flood was a major contributor to economic losses in the region, but often in areas where insurance penetration was limited. Flood is difficult for (re)insurers to model, but Guy Carpenter has made ... Continue Reading »
Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events – GC@PCI Commentary
David Priebe, Vice Chairman Contact The recent series of catastrophic events - earthquakes in Mexico, Hurricanes Harvey, Irma and Maria - is reminding cedents that reinsurance is one of the most effective ways to protect corporate capital bases Harvey on its own is likely an earnings event that will probably not require an increase of industry capital; the addition of the ... Continue Reading »
