Mădălin ROȘU (rmadalin.rosu@gmail.com)
The Bucharest University of Economic Studies, Bucharest, Romania
Abstract
The paper focuses on the evaluation of the hazard component of the individual models used by the Romanian insurance companies for underwriting policies that cover the earthquake perils. It presents the relevant conclusion of an analysis carried on the following external models: IS, AIR, RMS and EQE.
Starting from the specificities of the seismic hazard in Romania, the analysed data put emphasis on the most important parameters of the hazard component for the insurance companies, namely the probabilistic event sets, the ground motion prediction equations and the spatial distribution of the model generated hazard.
The conclusions were drawn from using these parameters within the validation tests carried on the portfolios of two insurance companies active of the Romanian insurance market.
Keywords: seismic hazard, natural peril, earthquake, exposure, portfolio analysis
