6.0 Earthquake in Napa, CA

You can almost hear the insurance rates going up yet again.

Nester_sl said:

You can almost hear the insurance rates going up yet again.

Click to expand...

I'm guessing it's more that you can hear all the new policies being bought today.

Nester_sl said:

You can almost hear the insurance rates going up yet again.

Click to expand...

Earthquake coverage is not typically experience rated since the events occur so infrequently. I'm not sure exactly how the California Earthquake Authority sets their rates, but for other states I know it's typical that companies simulate several hundred thousand years through an AIR or RMS model to determine rates - actual events have nothing to do with it.

Related - Heavens_Myst is out in Mountain View now and confirmed it was no big deal, slept right through it.

General Antony_sl said:

Earthquake coverage is not typically experience rated since the events occur so infrequently. I'm not sure exactly how the California Earthquake Authority sets their rates, but for other states I know it's typical that companies simulate several hundred thousand years through an AIR or RMS model to determine rates - actual events have nothing to do with it.

Related - Heavens_Myst is out in Mountain View now and confirmed it was no big deal, slept right through it.

Click to expand...

Your right, its not typically exp rated, however it is ALWAYS reinsured, and reinsurance treaties are created with a combo of RMS/AIR as well as experienced.

Keep in mind that the experience will also amend the model. I live near Vancouver and most of the companies just amended 1/500 rating to a 1 in 250 year rating based on global experience ! (that means they tighten their model as they get scared!!)

Alex_sl said:

Ehhh, two dry years in a row isn't necessarily a sign of things to come. Three years ago people were bitching about how much rain we were getting.

Click to expand...

He is actually right. The drought we're currently in is the worst since we started recording water levels. But there are technological solutions (San Diego is already starting to invest in desalinization) that, while absurdly expensive, are cheaper than letting California turn back into a desert and relocating millions of people. So in the short term yeah, parts of California are in a pretty bad place. Long term I don't think it'll be an issue.

OneofOne_sl said:

Long term it's an issue. The amount of desalinization plants we'd need to even replace half of what we're not getting now is insane. I did the math in another thread based upon the max output of the most current plant in the world, and frankly each plant would be a literal drop in the bucket for a state our size, especially with our farming needs.

Click to expand...

Yep. And it is still cheaper than relocating millions of people. Also we could cover the artificial water ways we use to import water. We lose half that water to evaporation because they aren't covered. Plus desalinization has been getting a lot of focused research over the last few years. The big issue isn't the technology though, it is power. Four of the new generation nuclear plants could do wonders for the whole state.

I have faith in technology to solve problems.

And to create new ones!

General Antony_sl said:

Related - Heavens_Myst is out in Mountain View now and confirmed it was no big deal, slept right through it.

Click to expand...

I'm about 40 or so miles from the epicenter and it was a pretty good sized shake.

I'm about 5hours north of it, didn't feel anything but my family was calling me like crazy, asking if I'm okay. *Face Palm*