The aftermath of Hurricane Katrina has piqued interest in the insurance industry, and this scrutiny has led to assumptions that the industry has become unstable and unprofitable with the increased incidence of disasters in highly-insured regions of the world. This paper challenges that assumption by arguing that the insurance industry has responded by spreading risk through scaled and networked recovery schemes. We found that because of competitive strategies of risk-spreading and displacement arrangements, the industry has actually profited as a whole. Regional insurance companies have always relied on the higher financial scales of the reinsurance industry in Munich, Zurich, and London. But with claims reaching into the billions of dollars, the reinsurance industry itself has raised premiums, spread risk farther afield, and jumped scale by spreading risk to futures markets called Alternative Risk Transfers (ARTs). However, the recession beginning in 2008 has called into question the viability of using futures markets as insurance. It is shown through a media analysis of four major business publications (The Economist, The New York Times, The Financial Times and The Wall Street Journal) how the industry responded to the costs of the 2004, 2005, and 2006 hurricane seasons. Because geography is rather new to this literature, this paper also offers a broad review of the insurance industry. 相似文献
By using small scale model tests, the interference effect on the vertical load-deformation behavior of a number of equally
spaced strip footings, placed on the surface of dry sand, was investigated. At any stage, all the footings were assumed to
(i) carry exactly equal magnitude of load, and (ii) settle to the same extent. No tilt of the footing was permitted. The effect
of clear spacing (s) among footings on the results was explored. A new experimental setup was proposed in which only one footing
needs to be employed rather than a number of footings. The bearing capacity increases continuously with decrease in spacing
among the footings. The interference effect becomes further prominent with increase in soil friction angle. In contrast to
an increase in the bearing capacity, with decrease in spacing of footings, an increase in the footing settlement associated
with the ultimate state of shear failure was observed. The present experimental observations were similar to those predicted
by the available theory, based on the method of characteristics. As compared to the theory, the present experimental data,
however, indicates much greater effect of interference especially for larger spacing among footings. 相似文献
Recent mineral separate ages obtained on the Karoo large igneous province (southern Africa) suggest that the province was built by several distinct magmatic pulses over a rather long period on the order of 5–6 Ma concerning the main erupted volume [Jourdan, F., Féraud, G., Bertrand, H., Kampunzu, A.B., Tshoso, G., Watkeys, M.K., Le Gall., B., 2005. The Karoo large igneous province: Brevity, origin, and relation with mass extinction questioned by new 40Ar/39Ar age data, Geology 33, 745–748]. Although this apparently atypical province is dated in more detail compared to many other large igneous provinces, volumetrically important areas still lack sufficient high-quality data. The timing of the Karoo province is crucial as this event is correlated with the breakup activity of the Gondwana supercontinent. The Lesotho basalts represent a major lava sequence of the province, but have not yet been precisely dated by systematic analysis of mineral separates. We analyzed plagioclase separates from five lava flows encompassing the complete 1.4-km-thick Lesotho sequence from top to bottom using the 40Ar/39Ar method. We obtained five plateau and mini-plateau ages statistically indistinguishable and ranging from 182.3 ± 1.6 to 181.0 ± 2.0 Ma (2σ). We derived an apparent maximum duration for this event of 0.8 Ma by neglecting correlated errors embedded in the age uncertainties.
A critical review of previous ages obtained on the Lesotho sequence [Duncan R.A., Hooper, P.R., Rehacek, J., Marsh, J.S., Duncan, A.R., 1997. The timing and duration of the Karoo igneous event, southern Gondwana. Journal of Geophysical Research 102, 18127–18138] shows that groundmass analyses are unreliable for high-resolution geochronology, due to alteration and 39Ar recoil effects. Discrepancy between our ages and a previous plagioclase age at 184 Ma obtained by the later workers is tentatively attributed to the heterogeneity of the monitor used and/or cryptic excess 40Ar. The current age database suggests that at least three temporally and spatially distinct brief major events (the Lesotho and southern Botswana lava piles and the Okavango dyke swarm) are so far recognized in the Karoo province. Identification of brief and volumetrically important Karoo magmatic events allows detecting the migration of the Karoo magmatism and potentially the stress regime that affected the southern African lithosphere at this time. A filtered compilation of 60 ages obtained with homogeneous intercalibrated standards suggests a shorter duration for the main pulses of the magmatism between 3 and 4.5 Ma, compared to a whole province duration of 10 Ma, between 182 and 172 Ma. 相似文献
The Glikson structure is an aeromagnetic and structural anomaly located in the Little Sandy Desert of Western Australia (23°59'S, 121°34′E). Shatter cones and planar microstructures in quartz grains are present in a highly deformed central region, suggesting an impact origin. Circumferential shortening folds and chaotically disposed bedding define a 19 km-diameter area of deformation. Glikson is located in the northwestern Officer Basin in otherwise nearly flat-lying sandstone, siltstone and conglomerate of the Neoproterozoic Mundadjini Formation, intruded by dolerite sills. The structure would not have been detected if not for its strong ring-shaped aeromagnetic anomaly, which has a 10 km inner diameter and a 14 km outer diameter. We interpret the circular magnetic signature as the product of truncation and folding of mafic sills into a ring syncline. The sills most likely correlate with dolerites that intrude the Boondawari Formation ~25 km to the north, for which we report a SHRIMP U?–?Pb baddeleyite and zircon age of 508?±?5 Ma, providing a precise older limit for the impact event that formed the Glikson structure. 相似文献
A local-scale model for temperature-dependence of water-retention curves may be applicable to large scales. Consideration of this temperature dependence is important for modeling unsaturated flow and transport in the subsurface in numerous cases. Although significant progress has been made in understanding and modeling this temperature effect, almost all the previous studies have been limited to small scales (on the order of several centimeters). Numerical experiments were used to investigate the possibility of extending a local-scale model for the temperature-dependence of water retention curves to large scales (on the order of meters). Temperature effects on large-scale hydraulic properties are of interest in many practical applications. Numerical experiment results indicate that the local-scale model can indeed be applicable to large-scale problems for special porous media with high air entry values. A typical porous medium of this kind is the porous tuff matrix in the unsaturated zone of Yucca Mountain, Nevada, the proposed geologic disposal site for national high-level nuclear wastes. Whether this finding can approximately hold for general cases needs to be investigated in future studies. 相似文献