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AIR Worldwide Releases Updated Earthquake Model for Australia

AIR Worldwide Releases Updated Earthquake Model for Australia

Boston, July 27 (Korea Bizwire) — Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. These updates were prompted by findings in the National Seismic Hazard Model from Geoscience Australia (GA), which challenged established conceptions of Australia’s seismic hazard and generally decreased the view of seismic hazard [...]

Insurance Australia Group Selects AIR’s New Earthquake Model for New Zealand to Help Manage Its Catastrophe Risk

Insurance Australia Group Selects AIR’s New Earthquake Model for New Zealand to Help Manage Its Catastrophe Risk

Boston, Sept. 3 (Korea Bizwire) — Catastrophe modeling firm AIR Worldwide announced that Insurance Australia Group (IAG), the largest general insurance company in Australia and New Zealand, has licensed AIR’s new Earthquake Model for New Zealand to help manage its catastrophe risk. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. “This model has been developed to [...]

Courts to Decide if Government is Responsible for Pohang Earthquake

Courts to Decide if Government is Responsible for Pohang Earthquake

POHANG, Aug. 28 (Korea Bizwire) — A damages suit involving the earthquake in Pohang, North Gyeongsang Province on November 15, 2017 was filed. The trial is finally starting one year and nine months after the quake, as a government research team announced belatedly that ‘the operation of the geothermal power plant brought about an earthquake’, and [...]

2017 Pohang Earthquake Probably Caused by Geothermal Plant

2017 Pohang Earthquake Probably Caused by Geothermal Plant

SEOUL, Mar. 20 (Korea Bizwire) — South Korea’s second-most destructive earthquake, which struck the southeastern city of Pohang in 2017, was probably triggered by an experimental geothermal power plant, the government said Wednesday. The government-led teams of experts, from both South Korea and abroad, concluded that a series of earthquakes, reaching a magnitude of 5.4 [...]

Earthquake Aftershocks: Unprecedented CSAT Postponement Catches Public Off-Guard

Earthquake Aftershocks: Unprecedented CSAT Postponement Catches Public Off-Guard

SEOUL, Nov. 16 (Korea Bizwire) – While the city of Pohang and its surrounding regions continue to deal with aftershocks from the 5.4-magnitude earthquake that struck the day before, the government delivered its own stunning blow by postponing the state-administered college entrance exam to November 23.  Originally scheduled to take place on November 16, the [...]