Navigating New Zealand’s Seismic Landscape: Preparing for Increased Earthquake Risk
Summary
• The 2022 update of the Aotearoa New Zealand National Seismic Hazard Model has revealed a significant increase in earthquake hazard across the country, especially in the lower North Island and upper South Island.
• The heightened seismic hazard means organisations could face much higher projected damage and financial losses, requiring improved risk assessment and resilience strategies.
• RiskScape is an advanced risk modelling platform, enabling organisations to accurately quantify their earthquake risk using the latest scientific data, helping inform insurance decisions and resilience planning.
In the realm of organisational risk management, understanding seismic threats is not just a necessity, it’s a strategic advantage.
The 2022 update of the Aotearoa New Zealand National Seismic Hazard Model (2022 NSHM) marks a pivotal shift in our understanding of seismic hazard, offering business leaders and risk managers a unique opportunity to redefine resilience strategies. This revision estimates an increased likelihood of future earthquake shaking hazard across New Zealand, with some regions experiencing more than double the previous estimates. On average, results have surged by 50 percent or more, underscoring the imperative to bolster national resilience and readiness.
Understand the implications for insurance and risk management and learn about RiskScape, a powerful risk modelling platform that can help to navigate this complex landscape, enabling organisations to make informed decisions, optimise their insurance strategies, and enhance their resilience against seismic threats.
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