Newark, Calif.-based Risk Management Solutions (RMS) has formed a partnership with the China Earthquake Administration scientific and engineering arm, the Institute of Engineering Mechanics (IEM).
“This partnership will span a broad host of initiatives designed to promote greater awareness and understanding of natural hazard risk and exposure throughout China,” stated Paul VanderMarck, executive vice president of products at RMS.
The first product from the collaboration will be a probabilistic earthquake model covering all of China, for which RMS and IEM have already completed several months of development work. Recognizing the growing importance of this region for catastrophe risk management, RMS will be releasing the model in early 2007.
RMS’ close relationship with IEM further strengthens long-standing ties with the Chinese seismic and insurance community, including recent participation in the 2004 International Conference on Continental Earthquakes in Beijing, and the subsequent publication of the 2005 RMS white paper “Creating a Technical Foundation for Earthquake Insurance in China.” The new China earthquake model builds upon the recently released RMS Taiwan Earthquake and Hong Kong Typhoon models to reaffirm the company’s commitment to providing risk management tools and models for this quickly developing region.
IEM is currently organizing the next world conference on earthquake engineering, to be held in Beijing in October 2008. For more information, visit http://www.iem.net.cn/.
Topics Catastrophe Mergers & Acquisitions Natural Disasters China Earthquake
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