Earthquakes News

Despite Earthquake Risk, UK Ready to Begin Fracking – Again

Six years after Britain’s first fracking operation was stymied by earth tremors, its shale gas industry is poised to try again with a technology that could transform the UK gas market and drastically reduce its reliance on imports. While environmental …

Loss Estimate for October 2016 Italian Quakes Rises to US$244.4M: PERILS

The property insurance market’s losses from the series of earthquakes to hit Central Italy between Oct. 26 and Oct. 30, 2016 has risen to €208 million (US$244.4 million), according to PERILS, the independent Zurich-based organization that provides industry wide catastrophe …

Study Links Colorado, New Mexico Quakes to Oil and Gas Fluid Injections

A rash of earthquakes in southern Colorado and northern New Mexico between 2008 and 2010 was likely due to fluids pumped deep underground during oil and gas wastewater disposal, according to a study from Colorado University Boulder. The study, which …

Prevalent, Discredited Building Technique Raised Mexico’s Quake Deaths: Engineers

Warm lighting would enhance the wood floors’ natural glow, the developer promised, so when all the custom lightbulbs burnt out, Anahi Abadia and her husband grudgingly drove to Home Depot to replenish supplies for their chic new flat in southern …

Economic Costs of Mexico’s Earthquake Could Surpass $2B

President Enrique Pena Nieto said Wednesday [Sept. 27] that preliminary accounting of the damage caused by the two big earthquakes that hit Mexico this month could cost upward of $2 billion (38.1 billion pesos). Pena Nieto stressed that damage assessments …

Mexico Calculates Economic Cost of Quake; Insurance Covers Small Part of Losses

Mexican government officials are still tallying up the economic losses of the magnitude 7.1 earthquake that caused widespread damage in the capital, but for the manager of a downtown restaurant it is already all too clear. Sitting in the entrance …

Global Reinsurers Face Exposures to Mexico City Earthquake: Morgan Stanley

Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of deaths and the toppling of a number …

After Powerful Mexico Quake, Authorities Evaluate if Cat Bond Payout Triggered

At least 61 people died when the most powerful earthquake to hit Mexico in over eight decades tore through buildings and forced mass evacuations in the poor southern states of Oaxaca and Chiapas, triggering alerts as far away as Southeast …

Insured Losses for August 2016’s Italy Quake Revised Upward to $127.4M: PERILS

The final property insurance market loss estimate for the magnitude 6.0 earthquake that hit Central Italy on Aug. 24, 2016 has increased to €108 million (US$127.4 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. …

Blockchain Used as Settlement Mechanism for Cat Bond with Parametric Trigger

Financial markets are showing some signs of volatility these days after exceptionally low indicators since the start of the 2017. The Chicago Board Options Exchange Volatility Index, or VIX, is at its highest level this year. The VVIX Index, which …