1 / 15

Exercise I

Exercise I. Dirk Hollnack. Geo Risks Research Munich Re. Workshop Example - Brewery in the US An American brewery south of Columbia, South Carolina, wants besides fire insurance cover against earthquake, storm and flooding. The brewery exists for 50 years and

kevyn-matthews
Download Presentation

Exercise I

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Exercise I Dirk Hollnack Geo Risks Research Munich Re Natural hazards – Practical exercise

  2. Workshop Example - Brewery in the US An American brewery south of Columbia, South Carolina, wants besides fire insurance cover against earthquake, storm and flooding. The brewery exists for 50 years and brews beer according to traditional methods. The factory lies particularly favourable at the crossing of two highways and a railway track as well as close to a river, the Bull Swamp Creek. The owner considers insurance a routine issue. On demand a detailed plan of the factory could be supplied. Address: Fresh Foam Brewery Savannah Highway 132 (crossing Whetstone Road) 29112 Swansea South Carolina - US Total sum insured: 50 Mio. US$ No deductibles, no limits Natural hazards – Practical exercise

  3. Workshop Example - Brewery in the US Geographic location according to the internet (www.multimap.com) Natural hazards – Practical exercise

  4. Workshop Example - Brewery in the US Site plan with insurance relevant information Natural hazards – Practical exercise

  5. Example Earthquake Earthquake hazard according to CD-Rom „World of natural hazards“ Natural hazards – Practical exercise

  6. Example Earthquake Vulnerability Vulnerability: Natural hazards – Practical exercise

  7. Exercise I (Results) Dirk Hollnack MunichRe Geo Risks Research Natural hazards – Practical exercise

  8. How can we assess the expected loss? Hazard Vulnerability Exposed values Risk = Function Natural hazards – Practical exercise

  9. Basic rating concept (1) Hazard • Evaluation of the hazard level for a specific return period • Modification of the hazard level due to local effects • Assessment of the return period of other hazard levels Natural hazards – Practical exercise

  10. Basic rating concept (2) Vulnerability • Evaluation of loss ratios for all hazard levels • Adjustment of loss ratios due to risk specific factors Natural hazards – Practical exercise

  11. Basic rating concept (3) Calculation • Loss calculation for each hazard level • Summation of losses weighted by return period Natural hazards – Practical exercise

  12. Example Earthquake

  13. Example Earthquake Hazard • Basic hazard level: Intensity VI – VII 2.Local factors: Amplification, Liquefaction - potential due to location next to a river Modified Intensity: VII + 3.Assessment of the return period of other hazard levels : Factor 3 - 4 Natural hazards – Practical exercise

  14. Example Earthquake Vulnerability 4. Vulnerability: 5. Vulnerability is increased due to the age of the factory. (Faktor 1.3) Natural hazards – Practical exercise

  15. Example Earthquake Calculation 6. Calculation 7. Rate = 0.5%*1/125 + 2.6%*1/500 + 9.1%*1/1500+19.5%*1/4500 = 0.0196% = 0.196%o Natural hazards – Practical exercise

More Related