Earthquake Risk Transfer for Government Facilities
The Government Facilities Sector (GFS) includes a wide variety of facilities owned or leased by Federal, State, local, tribal, or territorial governments, located both domestically and overseas. Although some types of government facilities are exclusive to the GFS, government facilities also exist in most other sectors. Many government facilities are open to the public for business activities, commercial transactions, provision of services, or recreational activities. Other facilities not open to the public contain highly sensitive information, materials, processes, and equipment.
- Offices and office building complexes
- Retail stores within government facilities, government agencies within commercial facilities
- Housing or community service facilities provided for public use
Agriculture and Food
Food service establishments within government facilities
Healthcare and Public Health
Health clinics and medical units within government facilities
Transportation-related government facilities
Nuclear Reactors, Materials, and Waste
Nuclear reactors, materials, and waste located in government facilities
- Police, fire, and emergency services stations
- Emergency operations, command, dispatch, and control centers
Public facilities associated with:
Water: Water or wastewater treatment Water
Energy: Power or natural gas, highway and road service or maintenance
Communications, Information Technology
Telephone or Internet service
Highway or road service or maintenance
Affordable Risk Transfer
Once a loss occurs, it is too late to revise an insurance policy. Consequently, the policyholder must be extremely diligent during policy purchase and renewal. Understanding specific insurance requirements, carefully calculating the property and business interruption values, outlining contingency plans, and anticipating the potential losses at each location are all key steps in maximizing future insurance recoveries. In sum, paying close attention to the potential impact of a loss at the insurance procurement stage will help to minimize issues and maximize recovery when a loss does occur.
Now that revising insurance policies once a loss occurs is too late, Earling helps to know the best time to transfer risk through new policies or extending the current coverage for a limited priod of time for example only for 10 days and not for 365 days of year.
Maximizing insurance coverage after a catastrophic loss is difficult for any company but Earling Earthquake Preparedness Alerts assists to do it before a catastrophe occur.
Well Known Risk Takers
Tackle your risks with our solutions to the big players. We propose enterprise companies as well as SMEs and individualizes the best time to purchase a new earthquake policy or extending the current coverage to make it inexpensive.
Currently, Japan, New Zealand, Greece, Turkey, Caribbean, Chile, Ecuador, Taiwan, Romania, Indonesia, California are the regions, which Munich Re accepts their risks. In addition, South Africa, Oklahoma and Utah are subject to further work.
In the regions that Earling issues Earthquake Preparedness Alerts, Japan, New Zealand, Caribbean, Chile, Ecuador, Taiwan, Indonesia and US (California, Utah) are undercover by Swiss Re to take the risks.
How we can help?
In general, Earling has a global seismic monitoring network and specialists that are subject matter experts. Regarding the challenges mentioned above, Earling is been able to deliver support.
- In the pressure on profitability, performance management and key performance indicator settings.
- In the entrance of parametric insurance markets and issuing alternative products, Earling can deliver independent advice by our global resources.
- To keep control on the impact of catastrophic events, Earling can assist in optimizing, validating on Cat and reinsurance programs modelling.