RiskScape underpins new Earthquake Commission loss modelling platform

The Earthquake Commission (EQC) is now using RiskScape to model damage and losses from natural hazard events. Loss modelling helps EQC understand the impact of a disaster by providing realistic estimates of likely damage and loss. EQC uses RiskScape for:

  • Post-event modelling to provide near-real-time loss estimates and the spread of damage. This allows the insurance and emergency response sector to quickly understand the scale and spread of damage after an event;
  • Modelling potential natural hazard scenarios to plan how to respond and build community resilience;
  • Providing international reinsurance partners with an advanced view of hazard risks in New Zealand – a critical part of securing reinsurance; and,
  • Setting the EQC levy rate.