Would the reinsurance industry survive a Tunguska event?

Share

Risk Management Solutions recently published a paper analysing the 1908 Tunguska asteroid event which hit Central Siberia in Russia and looking at scenarios to determine what might happen should a similar event occur today. If a similar event happened above Manhattan today it could cause over a trillion dollars in property losses and around 3.2m deaths.

The Tunguska event wasn’t even a direct hit on the surface of the earth, rather it exploded 6 miles or so up in the atmosphere. This flattened 700 miles or more square.

The thought of such an event occuring again now is not a nice one. No matter where on the earth it occurred it would have a devastating impact, cause huge loss of life and cause much property damage. Could the reinsurance industry survive such an event? Would they even cover it? Some interesting reading for a Thursday morning, see the full paper here (in PDF format).

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.

Read previous post:
Bermuda pushing for bigger piece of catastrophe bond and ILS market

The Bermuda First initiative has now released its long awaited report which looks into Bermudas future and how to make...

Close