BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
Catastrophe risk modeling firm AIR Worldwide said Tuesday it has updated its earthquake models for South America. The updates on the models are based on new data about seismic risk in the area.
This version of the model can analyze high-value industrial facilities, builder’s risk, and public infrastructure. The catastrophe models include tsunami, liquefaction, and ground shaking in South America. Along with models for Chile, Peru, Colombia, and Venezuela there is now a model for Ecuador. Insurers, reinsurers, and other stakeholders will be provided with a complete view of earthquake risk in South America, AIR said in a statement.
Additionally, the model includes updates to the local intensity, vulnerability, and loss calculation. Updated ground motion prediction equations and a view of tsunami risk for the coastline, according to the statement.
“We’ve employed several innovative methodologies to achieve a comprehensive view of South America’s complex seismicity and the vulnerability of its building stock,” said Mehrdad Mahdyiar, vice president and senior director, earthquake hazard, AIR Worldwide. “By covering earthquake-triggered perils such as tsunami and liquefaction in addition to ground shaking, AIR’s new earthquake models give companies a distinct advantage in preparing for the next great earthquake in the region.”
Nepalese nonlife insurers have settled only 11% of claims relating to the earthquake that hit the country on April 25, reported E Kantipur.