GEM releases a new earthquake loss model for China
Over the last centuries, China has been affected by several seismic events of high magnitude. The combination of high seismicity, exposure and population density led to costly events with a high number of fatalities. Between 1500 and 2004, China was the country that registered the largest number of earthquake fatalities.
This new model will provide physical damage and financial loss metrics due to earthquake ground shaking hazard for scenario events and probabilistic risk assessment, both vital in addressing the insurance protection gap and disaster risk reduction management in China.