In April, FEMA and the U.S. Geological Survey published an updated version of Hazus Estimated Annualized Earthquake Losses for the United States. This report reveals that earthquake risk—the exposure of people, the built environment, and the economy to earthquake hazards—is significantly higher than in the past, and it continues to rise.
The report provides criteria and methodology for comparing seismic risk across regions. By looking at what is located in earthquake hazard areas and assessing the potential damage from earthquakes, the new study is able to estimate annualized losses, both nationwide and state-by-state. The results ought to draw serious attention to the need for greater investment in seismic mitigation and strong building codes to ensure that every community’s building stock and infrastructure remain safe and functional when earthquakes strike. The cost of doing too little is very high indeed.
This Thursday, the Earthquake Engineering Research Institute (EERI) will present a free webinar that offers an interdisciplinary overview of earthquake risk and resilience in Utah today: from the underlying seismology of the region, to current retrofit projects and engineering challenges, to the policy-making context and community planning for recovery.
On Monday, March 28, CREW and our central-U.S. partner CUSEC, will present the national Mind the Gap earthquake insurance forum. This event is an opportunity for emergency managers, other disaster preparedness professionals, and disaster insurance experts to explore and discuss the issues and challenges involved in expanding the role of earthquake insurance in preparedness and post-earthquake recovery.