50 earthquakes per day. What are you doing about it?
The National Earthquake Information Center (NEIC) locates about 20,000 earthquakes each year—or approximately 50 per day. According to NEIC’s long-term records (since 1900), we can expect about 17 major earthquakes (7.0-7.9) and one great earthquake (8.0 or above) in any given year.
And yet, many homeowners, even in earthquake-prone California, neglect to carry the additional earthquake coverage needed to fully protect their investment. Are insurers missing the opportunity to market those homeowners at risk of earthquake property damage, simply because they lack the proper earthquake risk data?
Some consumers may be misinformed about the lack of earthquake insurance within their standard homeowner policy—or unaware that a tsunami, or mountainous wave, may follow an earthquake that occurred along the ocean floor.
Educate your business.
Are insurers missing the opportunity to market those homeowners at risk of earthquake property damage simply because they lack the proper earthquake risk data?
Some consumers may be misinformed about the lack of earthquake insurance within their standard homeowner policy—or unaware that a tsunami, or mountainous wave, may follow an earthquake that occurs along the ocean floor.
How does it work?
Our collective earthquake risk data layers and probabilistic model cover all 50 states and account for historic, nationwide earthquake hazard and risk information for insights into location or portfolio risk.
Our earthquake risk assessment uses historical geographic data, scientific soil types, and parcel boundary data.
Since certain soil types can fail during an earthquake, our methodology also measures risk for earthquake property damage to a structure based on the nature of the soil type – or soil susceptibility index (SSI). A risk score then determines the level of risk to any property within a portfolio.
Our earthquake risk assessment improves earthquake risk management by allowing you to:
- Pinpoint a specific property location. Unlike other products that utilize larger geographic areas like ZIP code or county, our location tools allow for more accurate risk assessment.
- Evaluate the earthquake risk of individual addresses or your complete portfolio to establish more adequate earthquake risk premiums.
- Weigh policy decisions such as when to recommend additional earthquake coverage for properties in disproportionately high-risk locations.
- Identify sales and marketing opportunities to homeowners in high risk earthquake locations.
Tel: (866) 774-3282
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