Earthquake Risk Transfer for South Africa

Earthquake Risk Transfer for South Africa; Short-term earthquake loss
Fig.1 - Hashed circles represent current Earling undercover regions.

While major earthquakes are uncommon in South Africa in general, the earthquake occurred in a mining belt where earthquakes are relatively common. The CGS had described a 2005 earthquake with a magnitude of 5.3 on the Richter scale in the same area as Orkney as the largest mining-related earthquake in South Africa. The earthquake occurred on 9 March 2005 at DRDGOLD's Hartebeesfontein mine in Stilfontein, killing miners underground and resulting in the closure of the mine an investigation by the mining regulator following the incident found that it was caused by mining and further seismic events would occur while mining continued. The report on the investigation recommended improvements in seismic monitoring among other things, and some of the recommendations had been implemented before the 2014 earthquake. The USGS recorded a 4.9 moment magnitude earthquake on 15 June 2014 in the same area, which earth sciences believe may have been a foreshock.

EPA Effect on South Africa Probable Maximum Loss

Fig.2 - PML - Mean return period in years. EPAs that are not supported by First Notice increases the insurance loss. South Africa earthquake Average Annual Loss is $601.24 million (South Africa Disaster & Risk Profile, 2014).

Urban Planning Strategic Examples for South Africa

Urban Regeneration and Renewal for South Africa; Urban Redevelopment Program

South Africa earthquake loss expected; Short-term

South Africa earthquake risk that need to be transferred, download the report.