Big quake losses lurk in unexpected regions; earthquake risks extend beyond California. Insurers must model future catastrophe exposures regardless of frequency
Article Abstract:
Property insurers should tailor their catastrophe policies to cover the damages that could be incurred by natural disasters in areas where such occurrences are infrequent. The best way for insurers to limit losses from unforeseen natural disasters would be for them to devise a nationally standardized liability scale that would be proportioned to the different types and frequencies of natural catastrophes as they occur by region.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Insurers must do more to survive disasters
Article Abstract:
The insurance industry needs to reduce its exposure to natural disaster risks. Already underway are programs to encourage better building standards, increased enforcement of construction codes and education programs to help the public prepare for natural disasters. Insurers should also become familiar with current climate research and incorporate theories of global climate change into their risk models.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Make disasters matter before it's too late
Article Abstract:
The insurance industry, under the leadership of the Insurance Institute for Property Loss Reduction, has launched a major initiative to increase awareness of the potential for property loss that is created by natural catastrophes. The campaign is focusing on raising awareness of the ways that property damage mitigation can help communities in the wake of catastrophes.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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