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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.

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GEM's commitment to public good

As part of GEM’s products and services strategy, GEM is offering value-added products for a fee such as the new China Model. These value-added products will also be available for free for public-good, non-commercial applications. In turn, the revenue generated from product or services fees will be reinvested to maintain GEM’s core capabilities, with an emphasis on providing support to developing countries.

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What they say about the model

SWISS RE

HANNOVER RE

GUY CARPENTER

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