Archive for the ‘earthquake insurance’ Category

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Central Arkansas Shaken By Earthquakes

November 23rd, 2010 by Iris | Comments Off | Filed in earthquake insurance, homeowners insurance

Residents of Arkansas and other parts of the south-central United States may want to look into earthquake insurance if Saturday was anything to go by.

Central Arkansas was rattled by a series of earthquakes three days ago, including one with a magnitude of 3.9, though some reports said that it felt closer to 4.2.

The U.S. Geological Survey confirmed the 3.9 rating however, and also reported a number of other quakes centered near Guy, AR, with magnitudes ranging from 1.7 to 3.9.

The strongest of the temblors occurred around 1:00 in the afternoon, and was felt in the northwestern part of the state.

Fortunately, there was no structural damage, and no one was injured.

This is just the most recent in a series of earthquakes, the last of which were about a month ago. That last series didn’t have any quakes over 3.0, however.

Dr. Steve Horton, a research scientist from the University of Memphis, told the press at that time that Arkansas is getting a lot of unusual earthquakes. At that time, they’d logged more than sixty in the previous thirty days.

“In the New Madrid Seismic Zone there’s approximately 200 per year, so if we had that many in Central Arkansas in less than a month, something is going on,” said Dr. Horton.

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Earthquake Rattles Oklahoma

October 14th, 2010 by Iris | Comments Off | Filed in earthquake insurance, homeowners insurance

You probably wouldn’t think to buy earthquake insurance if you lived in Oklahoma, but perhaps wherever you are, you should think again.

According to local NPR station KGOU a quake at 9:06 CDT on Wednesday morning was one of the strongest earthquakes ever recorded in Oklahoma, left two people with injuries (minor ones), and was felt in parts of five other states, including Texas.

The United States Geological Survey rated the temblor at a magnitude of 4.3 and said the epicenter was about six miles northeast of Norman, OK.

Oklahoma has only recorded three stronger earthquakes since becoming a state one hundred and three years ago. The sharpest ever was a 5.0 shaker that struck El Reno, a town just west of Oklahoma City, in 1952.

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University of Nevada, Reno to Expand Earthquake Research Center

October 5th, 2010 by Iris | Comments Off | Filed in earthquake insurance, homeowners insurance, insurance news

If insurance against earthquakes is a concern of yours, you’ll be interested to know about a new $12.2 million federal grant that was given to the University of Nevada, Reno, in order to make their earthquake research center the largest quake simulation facility in the nation, more than doubling its size. The new Shake Table Laboratory, which will comprise some 23,000 square feet, will allow researchers to conduct seismic tests on models of bridges and buildings that are much larger than any that have been tested before.

For the last twenty-five years, earthquake research has been conducted at the lab using four shake tables, which simulate the effect of seismic waves moving through layers of soil beneath building foundations, in order to gauge how different structures respond to that sort of stress. The expansion will allow the housing of five 50-ton-capacity shake tables.

Ian Buckle, the director of the Large-Scale Structures Lab at the test facility, explained, “This will be a quantum jump in the range and complexity of experiments that can be undertaken in both new and existing laboratories, with advances in state-of-the-art earthquake engineering that are not currently possible.” He added, “Safer buildings, bridges and more resilient communities will be the end result.”

Buckle also said that the total combined area of the new and existing facilities at the university’s Center for Civil Engineering Earthquake Research will be greater than 30,000 square feet. Construction is expected to begin this month, with a projection completion date of Fall, 2013, and a cost of $18 million.

The $12.2 million grant is part of $50 million in grants that the Commerce Department’s National Institute of Standards and Technology awarded this week to build new scientific research facilities across the country.

According to U.S. Commerce Secretary Gary Lock, “Strengthening research and development in the United States is critical to our ability to create jobs and remain competitive. These construction grants will help the U.S. produce world-leading research in science and technology that will advance our economic growth and international competitiveness.”

Source: The Insurance Journal

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Friday Filmstrips: Earthquake Insurance

September 10th, 2010 by Iris | Comments Off | Filed in earthquake insurance, friday filmstrips

Unlike hurricanes, earthquakes come with little – usually no – warning (notions about “earthquake weather” aside) which is why it’s important to consider purchasing earthquake insurance – especially if you live in an area known for fault activity. In today’s Friday Filmstrip, we share a KRON story on earthquake insurance from 2007 – but still relevant.

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Friday Filmstrips: Earthquake Insurance

August 6th, 2010 by Iris | Comments Off | Filed in earthquake insurance, friday filmstrips

If you live in California, earthquakes are inevitable, but did you know only about 10% of homeowners have earthquake insurance? For this week’s Friday Filmstrip, we share a video from You Tube and the Insurance Journal:

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Insurance Briefs: New Weather Insurance Company in MN

July 20th, 2010 by Iris | Comments Off | Filed in business insurance, earthquake insurance, flood insurance, insurance news

Earlier this month when we talked about the bizzare things people insure, we neglected to mention weather insurance, but there really are companies who offer such a product. It works much like wedding insurance, making sure that you get reimbursed for deposits and such if weather forces you to cancel any kind of event.

A company offering weather insurance products recently opened in Lakeville, MN.

The insurer in question, Milltown Insurance Group, specializes in “…niche property and casualty program business and provides solutions for smoothing revenues, locking in profits and increasing sales through the use of weather insurance products for virtually any type of business, event or promotion.”

The company was opened by Dana D’Arrigo

Milltown says their weather products are extremely customizable as well as being affordable additions to existing insurance and/or marketing programs.

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Tornado and Earthquake Hit Ontario on Eve of G8 and G20

June 24th, 2010 by Iris | Comments Off | Filed in earthquake insurance, insurance news

Reuters is reporting on the odd weather events that are plaguing Ontario, Canada this week.

As International leaders gather for the Group of Eight and G20 summits in the province, the region has been subject to a tornado and a 5.0 magnitude earthquake. In addition, violent thunderstorms are being predicted.

In the past 24 hours alone, southern Ontario has been hit by a 5.0 magnitude earthquake and a tornado. Violent thunderstorms are predicted for later Thursday.

David Phillips, meteorologist for Environment Canada, said, “You can’t go four days in a row without having some moisture … what they’re seeing is the full suite of weather possibilities at this time of year, beginning with a tornado.”

A Reuters reporter joked that a plague of frogs might be next, to which Mr. Phillips responded, “It’s unlikely because there doesn’t seem to be any weather in the area, like dust devils or waterspouts picking up frogs from wetlands and carrying them over there.”

The weather in Huntsville, the resort town hosting the G8 on Friday and Saturday, has been given a weather prediction that includes pleasant days and temperatures around 73 degrees (Fahrenheit, or 23 Celsius).

Phillips offered another reason for summit participants to be optimistic, “There’s no volcanic activity in that area so I think they’re safe from that point of view,” he said.

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