Multi-Hazard Parametric Catastrophe Bond Trigger Design for Subduction Earthquakes and Tsunamis

EERI’s New England Regional Chapter presents a FREE webinar with Dr. Katsuichiro Goda, Associate Professor and a Canada Research Chair in Multi-Hazard Risk Assessment at the University of Western Ontario, Canada, on the topic of his 2021 Earthquake Spectra paper. Paper abstract: This study presents trigger design methods and performance evaluations of multi-hazard parametric catastrophe bonds for mega-thrust subduction earthquakes and tsunamis. The catastrophe bonds serve as alternative disaster risk financing tools for insurers and reinsurers as well as municipalities and governments. Two types of parametric catastrophe bond trigger are investigated. A scenario-based method utilizes available earthquake source-based information, such as magnitude and location, whereas a station-intensity-based method can be implemented when seismic and tsunami hazard monitoring systems are in place in a region. The case study results, focusing on wooden buildings in Miyagi Prefecture, in Japan indicate that the station-intensity based trigger methods outperform the scenario-based trigger methods significantly. Incorporating seismic and tsunami hazard information from multiple recording stations results in smaller trigger errors. The station-intensity-based methods are applicable to building portfolios at both municipality levels and regional levels.

Видео Multi-Hazard Parametric Catastrophe Bond Trigger Design for Subduction Earthquakes and Tsunamis канала Earthquake Engineering Research Institute (EERI)