This blog is a reprint of an article published in Canadian Underwriter
New insights often challenge the established view. The view of earthquakes in Canada is changing, including shifts in the seismic risk within the greater Metro Vancouver area and in the balance of seismic risk between the east and west.
Starting with Metro Vancouver, insured seismic risk was previously viewed as being more heavily concentrated in the city proper, given the exposure concentration, including a prevalence of high-value buildings. But based on insights, the product of a new RMS model focused on earthquake risk in Canada, it appears insured seismic risk is driven more by exposure in the expansive region to the south of Vancouver, which straddles the main arm of the Fraser River.