Abstract
Following the Newcastle earthquake of December 1989, a consortium of Australian insurance companies commissioned Works Consultancy Services Ltd, New Zealand to undertake earthquake probable maximum loss assessments for the main city centres of Australia. Studies have been completed for the regions around Sydney, Melbourne, Adelaide, Perth and Brisbane. Customised insurance loss assessment models were developed for each study region, with each including specific analytical models for geography, seismicity, ground conditions, patterns of building construction, and insurance company exposures. The analysis model includes earthquake insurance loss versus shaking intensity relationships derived from Australian and international data, and takes specific building vulnerabilities into account. Loss assessments target the Probable Maximum Loss in relation to return period.
Highlights
Coinciding with the occurrence world wide of natural disasters of earthquake and hurricane, the December 1989 Newcastle earthquake insurance losses focused attention on reinsurance for catastrophe losses
A customised computerbased analytical model for the Probable Maximum Loss (PML) evaluation of insured earthquake risks was established for each region. and coupled with the insurance data provided, independent PML estimates were assessed for each company
Probable Maximum Loss (PML) estimates presented in tabular form for specific return periods, and in continuous graphical form, for each of the total, domestic, and commercial risk portfolios
Summary
Following the Newcastle earthquake of December 1989, a consortium of Australian insurance companies commissioned Works Consultancy Services Ltd, New Zealand to undertake earthquake probable maximum loss assessments for the main city centres of Australia. Studies have been completed for the regions around Sydney, Melbourne, Adelaide, Perth and Brisbane. Customised insurance loss assessment models were developed for each study region, with each including specific analytical models for geography, seismicity, ground conditions, patterns of building construction, and insurance company exposures. The analysis model includes earthquake insurance loss versus shaking intensity relationships derived from Australian and international data, and takes specific building vulnerabilities into account. Loss assessments target the Probable Maximum Loss in relation to return period
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
