This webinar explores earthquake loss modelling techniques used in the professional practice for insurance and re-insurance sectors
Event Information
27 March 2025, 3:00 - 5:00 (UK time)
This event is free and open to all.
Where: online (register using the link below)
Zoom registration link
DescriptionThe probabilistic earthquake loss model to estimate the financial loss for insured portfolios is a comprehensive process. It requires the understanding of seismic hazard, financial vulnerability of insured assets (structures, contents and business interruption due to damaged structures and contents), and insurance/reinsurance agreements that transfer the responsibility of payouts between insured and insurer. This talk initially discusses the main components of earthquake loss modelling and their significance in the computed financial losses. The use of computed financial loss by different bodies in the insurance and reinsurance sectors is the focus of second part in the talk. Finally, the role of earthquake loss modelling in risk reduction, within the perspective of (re)insurance, is explained from the Turkish experience after the February 6th, 2023, Kahramanmaraş Earthquake sequence. |
Speakers
Sinan Akkar
T Rupt Technology Inc
Sinan Akkar is currently the head earthquake catastrophe modeler at T Rupt Technology Inc., the research, development and technology company of Turk Reasurans Inc. He served as a full-time professor at the Middle East Technical University and Boğaziçi University between 2003-2021. Sinan Akkar has been the team member and technical integrator of ground-motion characterization of SSHAC Level 2 and 3 nuclear power plant seismic hazard projects in the US, Europe Türkiye and Kingdom of Saudi Arabia. He also acted as the principal investigator of the Revision of National Seismic Hazard Maps and the Revision of the compulsory Earthquake Premiums for Turkish Catastrophe Insurance Pool (TCIP). He is a member of the board of directors in the International Earthquake Engineering Association, the Turkish Earthquake Foundation and the editorial board member of Journal of Earthquake Engineering.
H. Erdem Karabostan
T Rupt Technology Inc
H. Erdem Karabostan is the general manager of T Rupt Technology Inc., the research, development and technology company of Turk Reasurans Inc. He brings over 18 years of experience in insurance, reinsurance, and project management. He started his career in 2006 at Anadolu Sigorta as an assistant internal auditor and climbed the ranks to become a project manager. Erdem has held significant leadership roles, including Deputy General Manager at Türk Reasürans, where he was responsible for IT, HR, Claims, CAT Modelling, Legal, and Risk Engineering. In 2023, he joined T-Rupt as General Manager, steering the company with his expertise in business solutions management, IT audit, and compliance. Erdem holds certifications as a Project Management Professional (PMP), Certified Information Systems Auditor (CISA), and ITIL v3 Foundations Certificate. He is fluent in both Turkish and English and is a graduate of Middle East Technical University.
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