Caribbean Risk Managers Publishes Updated Report on Haiti Quake

Caribbean Risk Managers Ltd. (CaribRM) has published an updated report on the earthquake in Haiti, which gives precise details concerning the unfolding of the event. It continues with an examination of the damages it caused, both on the ground and from satellite observations, as well as illustrations of the severity (MMI) of the quake in different parts of the city and its surroundings.

In examining the severe structural damage that occurred CaribRM notes: “The widespread failure of older buildings (which had little or no lateral shear reinforcement) is understandable in MMI intensity of VII to VIII; however the failure of newer buildings suggests a lack of attention to basic earthquake design features in all but the largest and newest structures.”

The report is well illustrated with photos and charts, and can be viewed at:
www.caribrm.com/documents/Reports/CaribRM_HaitiQuake_SpecialBulletin2.pdf

CaribRM was formed in 2006 through the merger of GeoSY Ltd with the Risk Management Division of CGM Group. It provides “a broad range of bespoke risk management services throughout the Caribbean Basin and beyond.”

The company also points out that it “provides services and expertise to a wide variety of regional and global re/insurance brokers placing Caribbean risk as well as to individual private and public sector clients including the World Bank and many Caribbean Governments.”

It is also the “Facility Supervisor” (risk and operational managers) of the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which it notes is “the world’s only multi-national and parametric catastrophe risk pool.”

Source: Caribbean Risk Managers – www.CaribRM.com