AIR Worldwide Releases Updated Earthquake Model for the United States
(Thomson Reuters ONE) -
For Immediate Release:
AIR Worldwide Releases Updated Earthquake Model for the United States
Newly added induced seismicity module captures the effects of human activity
BOSTON, June 19, 2017 - Catastrophe risk modeling firm AIR Worldwide today
announced the release of a significantly updated earthquake model for the United
States. Updates include enhanced event generation, local intensity calculation,
and damage estimation modules. Previously supported sub-perils (fire following,
liquefaction, and sprinkler leakage) have undergone comprehensive updates, and
the model adds two new sub-perils, tsunami and landslide, for a comprehensive
view of risk. The updated model also offers an induced seismicity module to
capture the effects of human activity on earthquake occurrence. AIR Worldwide is
a Verisk Analytics (Nasdaq:VRSK) business.
"As science and technology advance, new research provides an up-to-date view of
earthquakes and related sub-perils, and how those hazards interact with our
world," said Dr. Jayanta Guin, chief research officer at AIR Worldwide. "By
incorporating these latest scientific findings into the updated earthquake model
for the United States, AIR is offering the most comprehensive and innovative
solution for managing seismic risk."
AIR's updated model is informed by the latest National Seismic Hazard Maps from
the United States Geological Survey (USGS), the third Uniform California
Earthquake Rupture Forecast (UCERF3), and suites of ground motion prediction
equations including the Next Generation Attenuation (NGA-West 2) research.
The model also includes an integrated United States and Canada catalog of
simulated events that reflects time-dependency in California and along the
Cascadia subduction zone, to provide a unified view of risk to portfolios that
span the two countries. The model's induced seismicity module reflects the
effects of human activity-especially wastewater injection associated with
practices in the oil and natural gas industries-on seismicity rates in regions
of the Central and Eastern U.S.
The AIR Earthquake Model for the U.S. features a much enhanced vulnerability
module, which has undergone a series of extensive updates, as well as multiple
rigorous peer reviews. Building vulnerability is modeled according to the
evolution of a variety of building codes that regulate engineered buildings,
residential homes, unreinforced masonry construction, and mobile homes,
respectively. Code requirements on the ductility of engineered buildings is
modeled explicitly for the first time.
"AIR's overall vulnerability assessment framework is a reasonable approach to a
very difficult problem-quantification of building damage due to earthquake
ground motions for all of the many different types of buildings that exist in
the United States," said Dr. Charles Kircher, principal at Charles Kircher &
Associates. "The framework is a sophisticated combination of several different
state-of-the-art technologies that address regional differences and evolution of
seismic codes and design practices in the assessment of building vulnerability."
A new, probabilistic tsunami module is included in the earthquake model update.
The tsunami model domain covers the West Coast of the contiguous United States
(comprising California, Oregon, and Washington) and includes sources from the
West Coast and Cascadia subduction zone to the Aleutian Trench offshore of
Alaska. Additionally, damage caused by earthquake-triggered landslides is
modeled countrywide for the first time. The model calculates landslide
probability and ground displacement combining data on slope, soil strength,
water saturation, and ground shaking intensity.
Dr. Guin continued, "The enhanced model provides a more granular and
differentiated view of risk for underwriting purposes. Using advanced
methodologies and today's highest quality data available, including lessons
learned from recent earthquakes, we have expansively updated the earthquake
model for the United States to help insurers account for the full range of
earthquake-triggered perils when assessing this complex risk."
The AIR Earthquake Model for the United States is currently available in the
CATRADER(®) Version 19 and Touchstone(®) 5.0 catastrophe risk management
systems. In addition to new and updated models, Touchstone 5.0 features a
variety of enhancements to support more streamlined multi-tasking, and new
options for generating and working with loss results.
About AIR Worldwide
AIR Worldwide (AIR) provides catastrophe risk modeling solutions that make
individuals, businesses, and society more resilient. AIR founded the catastrophe
modeling industry in 1987 and today models the risk from natural catastrophes,
terrorism, cyber attacks, and pandemics globally. Insurance, reinsurance,
financial, corporate, and government clients rely on AIR's advanced science,
software, and consulting services for catastrophe risk management, insurance-
linked securities, site-specific engineering analyses, and agricultural risk
management. AIR Worldwide, a Verisk Analytics (Nasdaq:VRSK) business, is
headquartered in Boston with additional offices in North America, Europe, and
Asia. For more information, please visit www.air-worldwide.com.
###
For more information, contact:
Kevin Long
AIR Worldwide
+1-617-267-6645
klong(at)air-worldwide.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AIR Worldwide via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 19.06.2017 - 12:11 Uhr
Sprache: Deutsch
News-ID 548604
Anzahl Zeichen: 6385
contact information:
Town:
Boston
Kategorie:
Business News
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