Simple Proxies for Risk Analysis and Natural Hazard Estimation

Funding

MITACS and Property and Casualty Insurance Compensation Corporation

Project time

2013 - 2014

Principal investigators

Kristy F. Tiempo, Earth Sciences, Western University
Slobodan P. Simonovic, Civil and Environmental Engineering, Western University
Gregory Kopp, Civil and Environmental Engineering, Western University

Project team (UWO FIDS)

Slobodan P. Simonovic, Professor
Roshan Srivastav, Post-Doctoral Fellow, contact person, email

Project description

This research is aimed at better characterizing the exposure associated with three particular natural hazards: earthquake, flood and wind. The work represents an unprecedented collaboration between three leaders in the field of natural hazards at Western University and the insurance industry through the efforts of individual interns and the associated projects aimed at evaluating risk and the resulting exposure from a practical and relatively simplified perspective. The Property and Casualty Insurance Compensation Corporation (PACICC), in cooperation with member insurers, will provide industrial support and training to three interns in the applied field of insurance risk assessment. The goal of the associated research program is to develop simple proxies for exposure based upon the most important factors associated with each hazard: earthquake, flood and wind. These proxies will be evaluated for various population densities, infrastructure properties and governmental policies. The HQP involved in the project will spend time with PACICC, where they will interact with Canadian insurance providers, and Montpelierre Re in order to better understand the appropriate application of the risk and exposure assessments that they are providing for the assessment of hazard and risk in urban and suburban areas.

Project Publications

None.

Project Papers

None.

Project Reports

Roshan Srivastav and Slobodan P. Simonovic (2014). Generic Framework for Computation of Spatial Dynamic Resilience. Water Resources Research Report no. 085, Facility for Intelligent Decision Support, Department of Civil and Environmental Engineering, London, Ontario, Canada, 81 pages. ISBN: (print) 978-0-7714-3067-1; (online) 978-0-7714-3068-8.

Project Presentations

None.

Other

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