All Supplement - Catastrophe Risk articles – Page 5
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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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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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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
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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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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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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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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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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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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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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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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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
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 Risk
Hot weather in 2007
Moderate El Nino could see 2007 become the warmest year on record
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Features
CRESTA Celebrates its 30th Anniversary
30 years after its establishment, CRESTA has become a recognised name with a broadly accepted industry standard. By Christina Bayerl and Peter Hausmann
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Features
Athena and Artemis
Using Geographic Information Systems to Manage Flood Risk. By Suzanne Corona
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FeaturesPerformance of Commercial Buildings in Hurricanes
The hurricanes striking land in the US in 2004 and 2005 have provided a wealth of experience on commercial building writes Timothy Reinhold
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Features
Preventing losses in the chemical industry
Safety risks are inherent to the operational process of chemical manufacturing plants and refineries, but also pose a major concern for chemical facilities in other types of industry. By Leonardo Piazzi
