New Zealand earthquakes News

AIR Worldwide Releases Update of New Zealand Earthquake Model

Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated earthquake model for New Zealand. This model incorporates the latest scientific research after the 2010–2011 Canterbury earthquake sequence, the 2016 Kaikoura earthquake, and earthquakes worldwide to provide …

New Zealand Eyes Revamping Building Standards After November Quake

New Zealand’s government said Friday [March 31] the partial collapse of a modern office building’s interior during an earthquake last November was unacceptable and could have killed people. Minister for Building and Construction Nick Smith said officials will review the …

Munich Re Q4 Earnings Drop to 500M Euros ($530M) on Nat Cat Claims

Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million euros ($530 million) from about 700 million euros a …

New Zealand Quake’s Insured Losses Estimated at $705M-$3.5B: Aon Cat Report

Insurance losses from last month’s magnitude 7.8 earthquake in New Zealand are likely to range between NZ$1.0 to 5.0 billion (US$705 million and US$3.5 billion), according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. At …

New Zealand EQ Insured Losses Could Top $3B: AIR Worldwide

Catastrophe modeling firm AIR Worldwide released its initial estimates of industry insured losses from the earthquake that struck New Zealand’s South Island early this week, putting a range of $762 million to $3.5 billion out for the event (NZD1.15 billion …

Magnitude 6.2 Quake Strikes New Zealand’s North Island: AIR Analysis

Catastrophe modeling firm AIR Worldwide, reported: “At 9:52 p.m. Eastern Time, on January 19 (3:52 p.m., local time, January 20), a magnitude 6.2 earthquake struck New Zealand’s North Island. The epicenter was located 111 km (69 miles) northeast of Wellington, …

Central New Zealand Shaken by M6.5 Earthquake: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, homes and roads in central New Zealand were damaged by a M6.5 earthquake on Friday, August 16, at 2:31 p.m. local time (2:31 a.m., UTC), but no serious injuries have been reported. AIR …

One Year Later, Christchurch Still ‘Safe Haven’ for New Zealand Quake Survivor

Jane Taylor was managing a women’s clothing store in downtown Christchurch a year ago when the earthquake struck. She was dug from the rubble within minutes with horrific injuries — her vertebrae were crushed, her skull was fractured and her …

Building Toppled by New Zealand Quake Was Substandard

A six-story building that collapsed and killed 115 people in last year’s New Zealand earthquake was made of weak columns and concrete and did not meet standards when it was built, the government said Thursday. The building’s designer contested the …

Allied World Estimates $65-$75 Million Q2 Cat Losses

Allied World Assurance Company Holdings, AG has announced that it expects to record approximately $65 million to $75 million in catastrophe related losses and loss expenses in the second quarter of 2011. The company said the majority of those losses …