Earthquake Risk and Earthquake Insurance

Forecasting earthquakes and earthquake risk

This paper reviews issues, models, and methodologies arising out of the problems of predicting earthquakes and forecasting earthquake risk. The emphasis is on statistical methods which attempt to quantify the probability of an earthquake occurring within specified time, space, and magnitude windows. One recurring theme is that such probabilities are best developed from models which specify a ti...

Implied preference for seismic design level and earthquake insurance.

Seismic risk can be reduced by implementing newly developed seismic provisions in design codes. Furthermore, financial protection or enhanced utility and happiness for stakeholders could be gained through the purchase of earthquake insurance. If this is not so, there would be no market for such insurance. However, perceived benefit associated with insurance is not universally shared by stakehol...

Earthquake!

On January 25, 1 week after the most devastating earthquake in Los Angeles history, the Southern California Hospital Council released the following status report: 928 patients evacuated from damaged hospitals. 805 beds available (136 critical, 669 noncritical). 7,757 patients treated/released from EDs. 1,496 patients treated/admitted to hospitals. 61 dead. 9,309 casualties. Where do we go from ...

Earthquake Awareness Programs as a Key for Earthquake Preparedness and Risk Reduction: Lessons from Nepal

Nepal is a highly seismic country having a long history of destructive earthquakes. Huge loss of life and property had occurred in series of earthquakes in the past and it is believed that next big earthquake is around the corner. Studies have estimated a heavy loss of life and property due to the possible future earthquake in the country. The impact of destructive earthquakes can only be reduc...

Earthquake Risk, Earthquake Rapid Response System, and Early Warning System in Istanbul