Earthquake Risk Transfer for Emergency services
The Emergency Services Sector is a community of millions of trained personnel along with the physical and cyber resources that enable them to provide a wide range of prevention, preparedness, response, and recovery services during both steady-state and incident management operations. The Emergency Services Sector includes geographically distributed facilities and equipment and highly skilled personnel that provide services in both paid and volunteer capacities. The sector is organized primarily at the Federal, State, local, tribal, and territorial levels of government, such as city police departments, county sheriff’s offices, Department of Defense police and fire departments, and town public works departments. The Emergency Services Sector also includes private sector resources such as industrial fire departments, private security organizations, and private Emergency Medical Services providers. As the Emergency Services Sector focuses on protecting other sectors and the public, unique challenges arise in addressing the security and resilience of the Emergency Services Sector as critical infrastructure. The incapacitation of any of the assets, networks, or systems in this sector, whether physical or virtual, could cause significant harm or loss of life, public health issues, and/or long-term economic loss.
Sector Components, Disciplines, and Capabilities
The Emergency Services Sector consists of systems and networks composed of 1) physical, 2) cyber, and 3) human components.
The physical component includes the operations and storage facilities, specialized equipment, and vehicle fleets that enable personnel in each Emergency Services Sector discipline to perform critical services during steady-state and crisis operations. Specialized equipment and vehicles often require extensive personnel training and have distinct maintenance and storage requirements to ensure safe and effective operation when needed. Emergency communications equipment, such as land mobile radio systems are a substantial physical component in any agency.
Emergency Services Sector operations are increasingly dependent on complex information technology and cyber systems, particularly as security technologies advance. Emergency operations communications, database management, biometric activities, telecommunications, and electronic security systems are conducted virtually and are vulnerable to cyber disruptions. The sector widely uses the Internet to provide information, alerts, warnings, and threats to ESS and critical infrastructure partners. Degradation of the systems that support these activities would significantly raise the overall risk to a facility and individual emergency responders and could impede effective operations.
The sector’s most important component is the human assets—more than 2.5 million career and volunteer practitioners who serve in every community in the United States and about 40 million globally. These individuals contribute to the safety and security of the Nation by saving lives, preparing for and managing response operations, protecting residents and property, and ensuring public order in times of disaster.
Significant Emergency Services Sector Risks
Frequent and extreme natural disaster events will increase the response demands, which may drain sector personnel, assets, and capabilities. Natural disasters also threaten key services that enable ESS response. Consequently, reduce capital investment and grant funding constraining State and local resources.
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 period 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. Also, between 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.