black swan events & events and insurance · 2015. 7. 2. · black swan events and insurance...
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Black Swan
Events &
Insurance
Scott Ryrie
ICRM Symposium 2012
22nd February 2012
Black Swan
Events and
Insurance
ICRM Symposium 2012
Scott Ryrie
22nd February 2012
2
Japan Tsunami
Tsunami Warnings, Written in Stone
Source: NY times
Hundreds of these tsunami stones, some
more than six centuries old, dot the coast
of Japan.
Many carry simple warnings to drop
everything and seek higher ground after a
strong earthquake. Others provide grim
reminders of the waves’ destructive force
by listing past death tolls or marking mass
graves.
A stone tablet in Aneyoshi, Japan, warns
residents not to build homes below it. The
stark warning carved on its weathered
face: “Do not build your homes below this
point!”
3
Brisbane Flood
Wivenhoe Dam operators face threat of lawsuits
STATE dam operators face the prospect of huge class-action
lawsuits if it is proved that they were negligent in releasing water
from Wivenhoe Dam and thus contributed to flooding in
Brisbane or elsewhere.
The mayor of Queensland's flood-devastated
Lockyer Valley has admitted he neglected to
prepare an evacuation plan for the region,
despite being sent a blank template by the state
government.
Survivors of the valley's inland tsunami have fiercely
criticised mayor Steve Jones over his handling of
the humanitarian catastrophe that followed the
devastating flash flood on January 10, which killed
at least 17 of his constituents.
Source: www.theaustralian.com.au, AdelaideNow, www.couriermail.com.au
4
Christchurch Earthquakes
Red contours indicate liquefaction damage from
the September 2010 earthquake.
Green contours indicate liquefaction damage
from the February 2011 earthquake.
The epicentre, was 10km southeast of the
city and was a mere 5km beneath the
ground.
Source: BBC
5
Source: Bangkok Post, NYDaily News, Global Post
Bangkok Floods
6