The earthquake in Nepal is shaping up to be the worst natural disaster this calendar year, particularly because Nepal is remote, economically challenged, and not resilient to an earthquake of this magnitude. The ground shaking appears to have been stronger in Kathmandu than the 1934 earthquake, possibly making it the largest we’ve seen in Nepal in almost a century. What else do we know about this developing story?
On December 26, 2004 the third-largest earthquake recorded since 1900 triggered the deadliest tsunami in history. Within hours of the M9.1 earthquake, the tsunami had impacted the coastlines of 14 countries, from Thailand to South Africa. In total, more than 50 countries lost more than 225,000 people in the event.
Insured losses from the tsunami reached $1 billion, and economic losses rose to $10 billion. In the 10 years since, the world has sought to understand where similar events could occur, and how to prepare for and mitigate their impacts.
Super Typhoon Haiyan has affected 10 million people, and caused an unfathomable amount of casualties. Haiyan's November 8 landfall over Samar Island in the Philippines brought sustained wind speeds up to 195 mph, with wind gusts reaching 235 mph. Haiyan sustained super typhoon status (wind speeds 149 mph or greater) for 48 hours. If the Orient Express was today's TGV that would equal two round trips from Paris to Istanbul - approximately 8,000 miles.
May 26-27, 2015 4th Latin America Insurance andReinsurance Forum Miami, Florida