Italy Earthquakes 2012 - Effects on Reinsurance: Webinar
3:00 PM 4:00 PM UK; 4:00 PM Central Europe
EQECAT co-hosted a webinar on June 26, 2012 with ABS Consulting to address damages and effects of the 2012 Northern Italy earthquakes on the insurance and reinsurance industries.
Damage to Buildings from Earthquakes in Northern Italy - May 2012
Massive earthquakes rocked Northern Italy in May 2012, claiming 26 lives and causing widespread damage and devastation to the region. The first M6.0 earthquake occurred on May 20th and two damaging aftershock earthquakes, a M5.8 followed by a M5.4, occurred May 29, in Italy's Emilia-Romagna region, Italy's predominant economic production region.
Damage to Manufacturing from Earthquakes in Northern Italy - May 2012
Topics that were addressed in the briefing included:
- The earthquakes and relationship to regional seismicity; ground motions and expectations
- Derivation of building codes and design standards
- Review of damage pictures - location, ground motion, damage to the structures, missed opportunities for mitigation/strengthening, etc.
- Regional risk - modeling this event, what could have happened if the epicenter were closer to larger cities such as Bologna, loss return periods, etc.
The risk of losses and disruption caused by the earthquakes are a concern to businesses that rely on operations in Italy and also insurers that provide earthquake insurance.
Webinar Details
The webinar lasted one hour and included an opportunity for Q&A.
Date & Time
June 26, 2012
4 pm - Central Europe
3 pm - London
10 am - US EDT
7 am - US PDT
Thank you to those who participated in this briefing!