News Risk Management21 Jun 2019

Earthquake model for New Zealand gets updated

With New Zealand being highly prone to earthquakes which can lead to significant insured losses, catastrophe risk modelling firm AIR Worldwide (AIR) has released its updated earthquake model for the country. This updated model has now become the first model to cover trans-ocean basin tsunami risk from distant earthquakes, such as those off the western coast of South America. The earthquake model can also be used to demonstrate compliance with the Reserve Bank of New Zealand's Catastrophe Risk Capital Charge requirement.

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