QuakeRisk is a model and software for the estimation of monetary earthquake risk. The provided models are explained and they can be changed by the user. Thus, Quake Risk is characterized by flexibility and openness.
The earthquake risk is described herein in terms of average occurrence frequencies of earthquakes in relation to their cumulative losses. Catalogues of simulated loss events, their cumulative losses and the corresponding time period (simulated year) are also results of a QuakeRisk analysis. Simple hazard analyses are also possible.
Quake Risk is a software package which includes a risk model for large parts of Europe. In addition, various damage functions are recommended, depending on the construction or use of buildings. Spatial data for modelling the geographical distribution of portfolios are also provided. We also offer a model for Turkey and Iran.
Technical aspects such as deductible or limits of as well as the scattering of loss per insurance policies are also considered in an analysis. Reinsurance parameters of XL treaties can be taken into account during the analysis or incorporated by a post process of the user.
The risk analysis considers mainly to damage to buildings and their contents. Further analyzes are possible but require special processing of the output data by the user.
An documentation is provided. Its style and content is geared to scientific publications. The models are open and can be modified.