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Technology Focus - Taiwan quake risks studied by RMS.
(From Reinsurance)
Risk Management Solutions (RMS) has provided the risk analysis for a $100m catastrophe bond issue for the government of Taiwan.
The three-year bonds, which are the first catastrophe bonds to be issued in the Far East outside of Japan, were formally issued by Formosa Re for the Taiwan Residential Earthquake Insurance Pool (TREIP), in order to cover potential losses to the TREIP portfolio of residential earthquake insurance policies.
RMS did the risk analysis using its Taiwan earthquake model, which examines thousands of potential earthquake events on all known earthquake sources in and around the island of Taiwan. It then produces estimates of building and contents losses to insured exposure, depending on local building construction codes and other design provisions. It even examines data on different soil types on Taiwan.
TREIP was set up in ...
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