All Strategic Risk Global articles in September 2007 Catastrophe Risk
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Features
The Long, Wet Summer
The wettest period from May to June since precipitation records began in 1766 brought widespread flooding to parts of England in June and July 2007 and demonstrated the difficulties of managing the risks of rain induced flood. By Alison Craig
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Catastrophe RiskThe US Locations Most Vulnerable to Hurricanes
The entire East and Gulf Coasts of the United States are subject to hurricane damage, but some places are especially vulnerable.
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Features
Geohazards and Infrastructure Projects
Infrastructure is an essential element in the immediate, as well as long term, recovery from a catastrophe. Identifying geological risks to infrastructure projects is, thus, an essential part of catastrophe risk management. By Matthew Free and Sara Anderson
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Features
Steel Industry Loss, Reinsurance Gain
The discovery that he definitely did not want a career in the steel industry propelled a young graduate mechanical engineer in North Carolina to New York City and into the arms of the insurance industry. By Lee Coppack
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Catastrophe Risk
Very strong earthquake off Peru
A magnitude 8.0 earthquake occurred near the coast of Peru about 125km SSE of the capital Lima, on 15 August 2007, just as Catastrophe Risk Management was going to press. Initial reports said at least 400 people were killed and 1,500 injured in the Ica-Lima-Pisco area. Extensive damage was ...
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Catastrophe Risk
Insurance industry civil emergencies protocol
The UK insurance industry has agreed a framework for co-operation in disasters with the police, fire services, local government and aviation accident investigation authorities. The protocol, which covers England and Wales, was put into effect during the summer 2007 floods. The agreement includes the Association of British Insurers, the Chartered ...
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Features
Reducing Supply Chain Risk from Extreme Events
Businesses today outsource many operations to partners, many of whom may be critically exposed to extreme events and beyond of the control of the firm’s risk management programmes. By Marc Lehmann and Kenneth Travers
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Features
Major Flood in Central London: Can It Really Happen?
Summer floods in England highlighted how even moderately sized events can cause widespread damage and disruption, but a similar size flood in London would have been far more costly. By Jane Toothil
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Catastrophe Risk
International Society of Catastrophe Risk Managers
Only months after its formal launch, the International Society of Catastrophe Managers (ISCM) has nearly 400 members. Since its launch and first conference, held jointly with the Reinsurance Association of America in New Orleans in February 2007, the ISCM held a further conference in London with the RAA and the ...
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Features
Unchecked Risks That Can Lead to Catastrophe
Asset management, planned maintenance and procurement have the potential to create disaster if are not treated with the respect they deserve. By Tony Prior
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Catastrophe Risk
Cat exposure data standards working group launched
Insurance standards development organisation ACORD has launched a catastrophe exposure data working group. Its aim is to respond to the need for standard catastrophe data reporting throughout the entire insurance chain, from direct insurers to reinsurers and ultimately, capital markets.
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Features
Understanding the Vulnerability of China’s Buildings to Earthquake Risk
Earthquake engineers and catastrophe modellers have considerable data on the relative vulnerability of different construction materials, structural systems and building heights to seismic hazards. However, other factors that affect building stability in an earthquake are more difficult to assess, particularly in emerging markets. By Jayanta Guin and Tao Lai
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Catastrophe Risk
Bridge collapse highlights infrastructure concerns
The collapse of a 40 year old motorway bridge over the Mississippi River in Minneapolis, Minnesota, on 1 August 2007 has reinforced concerns about the condition of much of the US highway infrastructure. Four months earlier, the MacArthur Maze interchange which feeds traffic into the San Francisco-Oakland Bay Bridge in ...
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Catastrophe Risk
Final bill for Hurricane
Hurricane Katrina in 2005 cost the insurance industry $40.6 billion to settle 1.7 billion claims for damage to homes, businesses and vehicles in six states, according to the Insurance Information Institute (III). Hurricane Andrew, the previous record holder, resulted in $15.5 billion in losses in 1992 ($22.2 billion inflation adjusted ...
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Features
How Planning for Terrorist Attacks Worked for Hurricanes
Major incident training put in place by a large commercial property investor because of terrorist attacks proved its value in the face of US hurricanes. By John Smith
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Catastrophe Risk
Saudi Arabia’s first building codes
Saudi Arabia plans to implement its first national building code later in 2007. The Saudi authorities are using the International Building Codes issued in 2003 and 2006 by the International Code Council as the basis for their new code, which will address building risks, especially the threat of earthquakes, ...
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Features
Transforming Science into Business Application
David Bresch is head of the global atmospheric perils group within the catastrophe perils unit of Swiss Re and serves as chief modeller for all perils. He is also climate advisor to the board of Swiss Re. He talks to Catastrophe Risk Management about how science can support reinsurance. By ...
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Features
A Healthy Appetite for Insurance Risk
Capital markets’ investment participation in insurance risk continues to grow at a remarkable rate. By Cory Anger
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Features
A Research Agenda for London Flood
More attention needs to be given to the management of flood risk, specifically the role of insurance in this process. By Professor Edmund Penning-Rowsell
