A project to develop a uniform, worldwide earthquake model begins in early 2008 under the auspices of the OECD Global Science Forum
A project to develop a uniform, worldwide earthquake model begins in early 2008 under the auspices of the OECD Global Science Forum. A workshop of experts that took place early in 2007 agreed that the objective of the initiative should be to develop a technically consistent model with spatial resolution of at least community level with zooming capacities on hot spots and major cities.
Munich Re is injecting €5m into the public-private partnership. As a founding sponsor, it will promote the work of a scientific network of specialists all over the world coordinated by the Swiss Seismological Service at the Swiss Federal Institute of Technology in Zurich, the Geo Research Centre in Potsdam and the US Geological Survey (USGS).
According to Munich Re, the hazard information gleaned from the first project stage will be later extended to allow a description of loss scenarios in a risk model and an assessment of annual loss expectations. In accordance with the open source principle, the data will be available for use by anyone interested.
The model is intended to incorporate damage assessment information using both macro-seismic or empirical and analytical approaches, based on intensity and ground displacement. It will also cover regions which were previously ignored or not considered in sufficient detail.