Insurance today relies on models to predict earthquaketriggered
losses on the US west coast. But there is a lurking danger. Many do not consider the variability of model outcomes. As research by Swiss Re reveals, this can lead to an underestimation of ensuing losses.
The scale of increased earthquake activity in Oklahoma over recent years is unparalleled. Since 2008 the number of magnitude 3.0 earthquakes per year has grown from roughly 2 per year to an average of nearly 3 per day. This now makes Oklahoma the most seismically active of the lower forty-eight states. It’s highly likely that this dramatic rise in earthquake occurrence is largely a consequence of human actions.Download
Flood poses a risk to individuals, business and the public sector. Severe events in Canada can cause losses exceeding CAD 13 billion, with less than half of these covered by insurance. This leaves many families without the necessary funds to rebuild their lives
if disaster strikes. In addition it delays economic recovery in the affected areas ― an effect that hits even those whose homes are still standing. Concerted action across the risk management chain that involves all key stakeholders ― government, the insurance industry and homeowners ― can strengthen flood resilience in Canada.
This report was authored by students of the Johns Hopkins University School of Advanced International Studies (SAIS) as part of a practicum project in the Energy, Resources, and Environment Program. The practicum requires student teams to partner with key organizations to address critical international environmental policy challenges. Here, students collaborated with Swiss Re to further the understanding of natural disaster management policy in the United States and develop a platform for unlocking resources to build climate resilienceDownload
Are property losses prompting more casualty claims? Consider the possible correlation as we examine some of the largest, more recent casualty losses.Download
“One who buys has need of two eyes, but one’s enough to sell the stuff.” Unless you happen to be an insurance broker. In that case, you need two sharp eyes at all times: to know what “stuff” is for sale and what your client is actually buying. If you don’t, you may be on the road to an E&O claim.Download
Flooding is a common problem in Canada. Flood disasters have occurred in Canada almost five times more frequently than the next most common disaster, wildfires. (Sandink, 2010) Snow melt in the springtime and its subsequent runoff, rain, and ice jams – all common to Canada – are the most frequent causes of flooding. If more than one of these events occurs simultaneously, the severity flooding may increase.Download
This paper provides an overview of New York Labor Laws Sections 240 and 241 and a checklist of issues which underwriters may find useful when discussion construction site coverage with potential clients and brokers.Download
This publication examines how the 1821 Norfolk and Long Island hurricane would impact the region today.Download
The Southern California Earthquake Center says that the probability of a magnitude 6.7 or larger earthquake striking Los Angeles over the next 30 years is 67%. So it's vital that LA is able to rapidly mobilize all the resources necessary to bounce back following a disaster of this nature.Download
Swiss Re catastrophe experts use a simple and logic-based methodology to construct scenarios showing the potential social and financial impact of a tornado in the heart of a major US city.Download