Fifteen years ago on February 27, a devastating 8.8 magnitude quake struck southern Chile off the coast of Concepcion, shaking the ground for four minutes and unleashing a tsunami that left 550 dead. It was the deadliest natural disaster in …
Chile has agreed to an earthquake insurance program with the World Bank protecting it from $630 million worth of damage from strong earthquakes, in an effort to shore up risks to public debt from possible natural disasters. The insurance will …
Chile is finalizing a deal with the World Bank for insurance against high-intensity earthquakes that would impact the country’s fiscal policy and public debt, the Finance Ministry said on Thursday. “The insurance would allow Chile to receive pre-established compensation payments, …
A powerful earthquake shook southern Chile on Sunday, but there were no immediate reports of deaths and only minor known damage. The U.S. Geological Survey put the quake’s magnitude at 7.6 and said it struck at 11:22 a.m. local time …
One of the strongest El Niño periods on record and a positive phase of the North Atlantic Oscillation were the climate drivers in 2015 that led to an exceptional season of Pacific tropical storms and severe windstorms and flooding in …
British insurer RSA is not looking to be taken over but might consider offers if they are in shareholders’ interests, Chief Executive Stephen Hester said on Thursday after the firm posted a 4 percent rise in net asset value in …
Everest Re Group Ltd. reported third quarter 2015 after-tax operating income available to common shareholders of $200.2 million, or $4.53 per diluted common share, compared to after-tax operating income of $280.5 million, or $6.12 per diluted common share, for the …
Catastrophe modeling firm AIR Worldwide estimates that insured losses from the Magnitude 8.3 earthquake that struck Chile’s central coast near Illapel on Sept. 16 will be between CLP 400 billion ($600 million) and CLP 600 billion ($900 million). “The September …
Strong aftershocks rippled through Chile on Thursday after a magnitude 8.3 earthquake that killed at least eight people and slammed powerful waves into coastal towns, forcing more than a million people from their homes. The government ordered evacuations from coastal …
The purpose of modeling is to anticipate the likelihood and severity of catastrophes so that companies can prepare for their financial impact — before they occur. The evidence suggests that, for the most part, modeling has achieved its mission. Eleven …
