1 The Economics of the “Big Shake” Causes, Contracts and Concerns Dan Dyce, CPCU RPA February 13, 2017 What Causes Earthquakes? 2 USGS.gov Pacific Plate North American Plate Intraplate Earthquake 3 • An intraplate earthquake occurs in the interior of a tectonic plate. • Examples of damaging intraplate earthquakes are the devastating the 1811-1812 earthquakes in New Madrid, Missouri, and the 1886 earthquake in Charleston, South Carolina. • Oklahoma is now experiencing this kind of earthquake. Wikipedia 9-3-2016 5.8 Pawnee Earthquake 4 Oklahoma’s largest temblor on record, according to the U.S. Geological Survey 5 "It's an old historical building about 100 years old. It's still standing but some of the outer layers of sandstone fell said Pawnee Mayor Brad Sewell. 6
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Intraplate Earthquake 9-3-2016 5.8 Pawnee Earthquake · Intraplate Earthquake 3 • An intraplate earthquake occurs in the interior of a tectonic plate. • Examples of damaging intraplate
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1
The Economics of the
“Big Shake”
Causes, Contracts and Concerns
Dan Dyce, CPCU RPA
February 13, 2017
What Causes Earthquakes?
2USGS.gov
Pacific
Plate
North American
Plate
Intraplate Earthquake
3
• An intraplate earthquake occurs in the interior of a tectonic plate.
• Examples of damaging intraplate earthquakes are the devastating the 1811-1812 earthquakes
in New Madrid, Missouri, and the 1886 earthquake in Charleston, South Carolina.
• Oklahoma is now experiencing this kind of earthquake.
Wikipedia
9-3-2016 5.8 Pawnee Earthquake
4
Oklahoma’s largest temblor on record,
according to the U.S. Geological Survey
5
"It's an old historical building about 100 years old. It's still standing but some
of the outer layers of sandstone fell said Pawnee Mayor Brad Sewell.6
Florida Has Earthquakes
7
• An earthquake occurred near St. Augustine, in
January 1879. Reports of heavy shaking
knocked plaster from walls and articles from
shelves.
• Similar damage was reported at Daytona
Beach, 50 miles south.
USGS.gov
Texas Has Earthquakes
• The 1931 Western Texas earthquake heavily
damaged buildings at Valentine.
• Many chimneys fell.
• Adobe buildings suffered most, and cement
and brick walls were badly cracked.
8
California Has Earthquakes
9
A Sampling of California's Largest Earthquakes (Since 1800, ranked by magnitude)
7.9 Jan. 9, 1857 Fort Tejon7.9 April 18, 1906 San Francisco
As soon as you hear about an EQ, go look for the ShakeMap
USGS
earthquake.usgs.gov/earthquakes/shakemap/
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A ShakeMap
helps you planyour response.
http://earthquake.usgs.gov/earthquakes/dyfi/
“Did You Feel it” Map May be a Useful Tool
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31
Santa Rosa is 40 miles from the Napa EQ
USGS
www.cisn.org
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What do these tags mean?
1. Ground Failure:
Shaking causes soil failure that causes damage to the structures supported by the soil.
2. Structural Failure:
The ground is not damaged, but there is sufficient shaking to cause structures to move and deform.
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Earthquakes Cause Damage Two Ways
Dyce photo - 7.1, Christchurch New Zealand, September 4, 2010
Liquefaction is a form of ground failure
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Ground Failure: Liquefaction
Photo Credit: NISEE
Geotechnical Issues Lateral Spreading in New Zealand
Dyce photo
Lateral Spreading in New Zealand
Example of Ground Failure: Rockslides / Landslides
Photo Credit: Exponent
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From Oklahoma Dept. of Insurance
As of 1-1-2015,
the OklahomaDepartment of
Insurance
beganenforcing that
all resident agents,
CSRs, and adjusters with a propertyline of authority will be required to complete
one hour of earthquake CE per renewal cycle.
March 3, 2015 Bulletin
2015-02Oklahoma Commissioner Warns Insurers on
Denial of Earthquake Claims
• Oklahoma Insurance Department said insurance companies should make sure their adjusters are trained on how to handle an earthquake claim.
• Beginning this year, property/casualty insurance agents (and adjusters) are required to take one hour of continuing education on earthquake insurance.
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CALIFORNIA INSURANCE ADJUSTER TRAINING
FOR EVALUATING EARTHQUAKE DAMAGE
(a) California Fair Claims Regulations
(b) Determination of scope of loss
(c) Loss estimation techniques
(d) When to call for an engineer or expert
(e) DOI Earthquake Mediation Program
(f) Assessment of damage to concrete surfaces
(g) Subsequently discovered damage
(h) Programs to assist earthquake victims
CALIFORNIA CODE OF REGULATIONS, TITLE 10. CHAPTER 5, SUBCHAPTER 7.5.1