Strongest earthquake in years rattles Southern California
latimes.com
latimes.com
https://earthquake-report.com/2019/07/04/moderate-earthquake...
I hope this doesn't trigger anything larger. Does anybody know if this was close enough to the fault line to possibly affect anything?
EDIT: I see they have updated the article to a 1 in 20 chance.
[1] https://earthquake.usgs.gov/earthquakes/map/ [2] https://earthquake.usgs.gov/earthquakes/eventpage/ci38443095...
Wish I had come to campus early today to feel that one.
I felt it in South Pasadena, but it was very gentle; would have been easy to miss if I hadn’t been sitting still when it happened.
https://www.sfgate.com/earthquakes/article/do-minor-quakes-p...
You can get an estimate for an earthquake insurance policy with the California Earthquake Authority.
[1] https://www.nbcnews.com/news/investigations/why-do-so-few-ca... [2] https://www.earthquakeauthority.com/
Most insurance companies bailed out of the business of earthquake insurance after Northridge because when it happens, the claims are enormous. The 1906 San Francisco Earthquake was an indirect factor that lead to the Panic of 1907 due to the high volume of insurance claims.
[1]https://www.marketwatch.com/story/25-years-after-bay-area-qu...
(a) CEA will quickly run out of money and I won't be covered anyway.
(b) The whole community will be ruined so assuming all of my family is still alive we'd best move somewhere else anyway (and a rebuild or undamaged house wouldn't sell).
(c) Some kind of government bailout or community help program will be available.
For smaller earthquakes, it's likely I'd either fail to meet my deductible or be unable to pay the non-covered portion (which has to be paid out first before they'll begin to pay for further repairs).
Am I wrong, or is there something I'm missing? I wish this weren't the case.
- our equivalent of CEA (EQC) did indeed run out of money, although it’s mostly reinsurance and govt backed
- insurance companies went under, because even for a small city (400k), costs ran to $40 billion
- it’s now very very expensive to get earthquake coverage, in some parts of the country you are paying multiples of what less earthquake prone parts of the country pay, so people don’t bother. so they’ll lose everything next time, and we’ll foot the bill as a country
Scale of California probably means amplification if these effects, hundreds of billions in losses.
I don’t understand why insurance companies can run out of money whenever they need to pay claims. I’m sure they know they’re going to go under, why can’t they get insurance on themselves?
- the building was defective/you didn't have it inspected by our experts, so maybe the foundation already had cracks from the last EQ, in that case we can't pay the claim
- insurance only covers up to 5.0/6.0
- although it was reported as a 7.5, you live 4 miles away from the epicenter, meaning the EQ was likely below a 6.0, in which case your policy doesn't kick in/we'll only pay 30% of your claim
- the EQ cracked a water main/gas line, and most of the damage to your house is from the flood/fire, which isn't covered under EQ policy. try suing the insurance of the utility company.
- we determined that fracking is likely the cause of this quake, in which case it's manmade and not covered. you can sue the oil company though.
- we checked the seismometer and we dispute the USGS reporting that it was a 6.0/7.0/8.0/our geologist has published research saying that current methods of measuring earthquakes are in question. so although we don't need correct science to collect your premium, we do need perfect science to pay any claims. Or if you settle now, we'll pay 40% of your coverage or else you can try to sue us and maybe get paid 10 years from now
- we don't cover the specific region where all the earthquake damage occurred/that requires a different policy
- we only cover incidental/secondary damage, like clocks falling off the wall (which, of course, you must have a receipt for and will be paid minus depreciation and deductible). your policy doesn't cover utility line damage, structural damage, or earth-moving damage.
Both insurers and general reinsurance firms will some times sell their risk to investors (in the capital markets) through vehicles such as Insurance Linked Securities. An ILS provides one form of risk transfer. There are others.
In both cases, if the risk is tied to say, catastrophe insurance, then this offers (investors) returns uncorrelated with the stock market.
In the real world, the government can act as insurer of last resort and use tax dollars to with financing (though these usually are ideally set up with the initial fund).
[1]. https://www.investopedia.com/terms/c/catastrophebond.asp
The earthquake was strong enough for a payout if you were located within the zone: https://twitter.com/yourjumpstart/status/1146850926512111616
[0] http://www.earthquakescanada.nrcan.gc.ca/recent/2019/2019070...
[1] https://volcanohotspot.wordpress.com/2018/09/21/splitting-no...
[2] https://www.wired.com/story/walker-lane-move-over-san-andrea...
We didn't have much damage, but walking through the neighborhood afterward I counted about 20 houses that slid off their foundations.
When I lived in that general area, there was a 7.1 or 7.2 and I think there was one death. IIRC, it was due to a heart attack and locals joked it was in reaction to the amount of liquor bottles broken in some liquor store because photos of the broken bottles got splashed all over the papers as one of the bigger points of damage.
A train was derailed in that quake and I think someone broke their arm but no one died because it was going unusually slow for a passenger train, having been scheduled behind a slow-moving freight train.
We had aftershocks for weeks that interfered with my sleep. Some of the aftershocks were above a 5.0.
California is as prepared as any state can be for an earthquake and it is constantly looking for better ways to be prepared.
https://www.latimes.com/local/lanow/la-me-ln-earthquake-legi...
In the event of a larger quake, you might survive the initial shock but a high percentage of your city, including new buildings will need to be torn down.
This represents a huge loss to a city in economic terms. Imagine if downtown LA lost 50% of its office buildings and apartment buildings. Compare this to Japan where buildings survive and are required to be usable. Japanese engineers are shocked at what they consider to be American substandard building codes.
The US govt has even concluded that better and stiffer building codes would save billions a year: https://cdn.ymaws.com/www.nibs.org/resource/resmgr/docs/MS_C...
"Buildings Can Be Designed to Withstand Earthquakes. Why Doesn’t the U.S. Build More of Them?"
https://www.nytimes.com/interactive/2019/06/03/us/earthquake...
I wonder if it was just the vibration of the ground or if there’s some other factor alerting him.
Here's a video of a bunch of cats in a cat cafe in Japan whose sleep is interrupted by an earthquake. They all wake up and start looking around about 9 seconds before the shaking starts, probably due to sensing the p wave. https://www.youtube.com/watch?v=VJ-p9qOhBv4
Disclaimer: I am a geologist, but I'm not a P.G., hence all that I say on this topic is bullshit. p.s., Does your conference have beer? If it doesn't, I'm not going. I mean, I'll be so happy when AGU rolls around, because, man, I'm thirsty.
https://news.nationalgeographic.com/2017/05/map-ships-buried...
Informative USGS links include:
https://earthquake.usgs.gov/earthquakes/eventpage/ci38443183...
Select "View Neaby Seismicity" to see the 47+ recent quakes in this area.
Lots of shaking here in the greater LA foothills, but no damage (though this house does have earthquake insurance).
[1] https://earthquake.usgs.gov/earthquakes/eventpage/ci38443095... to save slight scrolling
https://en.m.wikipedia.org/wiki/2010_Baja_California_earthqu...
was this really the best anecdote they could find to include in the story?
On a more serious note, the anecdote might suggest that the earthquake produced very high frequency oscillations. Dried plants are relatively light and stiff so that a larger but slow displacement might be harder to spot by looking at them, but they could be much better at transmitting fast oscillations.
What an unusual form of earthquake injury!
Read as: don't pick dried chiles directly from below, or at least close the damn eyes...
edit: someone posted this a few seconds before me but i'll leave it up for posterity