Earthquake losses in Nepal

2021

The most recent significant earthquake in Nepal occurred on May 12, 2021. It had a magnitude of 7.3, and the epicenter was in the Eastern Region of the country, specifically in the Taplejung district. 

Earthquakes can have a significant impact on the financial benefits of utility sector companies. Some of the ways in which earthquakes can affect the financial benefits of utility companies include:

Introducing the latest breakthrough in earthquake prediction technology - our earthquake predictive model generator. This cutting-edge technology utilizes big data analysis and numerous IoT sensors to provide the most accurate and reliable earthquake predictions on the market.

Short-term earthquake forecasting data can have a significant impact on the development and implementation of an earthquake forecasting action plan in the utility sector. Some ways this data can be used to improve the response to an impending earthquake include:

An action plan for short-term earthquake forecasting for the utility sector could include the following components:

A low earthquake insurance penetration rate in Nepal can have significant consequences in the event of a major earthquake. Some of the ways it can threaten Nepal include:

Nepal is located in a seismically active region, and many cities in the country are considered to be vulnerable to earthquakes. Some cities that are particularly at risk include:

Exactly one year after a major earthquake shook the region in northern California, on December 20, 2022, a magnitude 6.4 earthquake once again hit the area. Despite monitoring the region for 365 days, Earling's Severe Ground Condition models did not detect any high-risk time-windows (a period of 2 weeks) leading up to the event. However, just a few days after the December 20th earthquake, the Severe Ground Condition models detected a high-risk time-window in the same region, marking the first high-risk time-window of 2023.

On December 14, 2022, the Southern California Earthquake Center received an alert from Earling's exclusive Severe Ground Condition models indicating a high-risk seismic time-window in the region. As predicted, a M6.4 earthquake occurred near Ferndale, California on December 20, 2022. A few days later, a M5.4 earthquake was recorded in Rio Dell, near the epicenter of the previous earthquake. We believe it was an independent event not an aftershock of the last December 20 earthquake. About 200,000 were affected somehow with the event.

Earling Severe Ground Condition models detected unusual patterns and marked mid-December 2022 as a risky time window a few days before the M6.4 earthquake hit the region on Dec 20, 2022. Based on our data and dashboards, more than 1,350 power plants, which were producing 58 Gigawatts of electricity, affected in 98 companies by 20 PGV to 1 PGV cm/s in 186 miles separated from the epicenter of the earthquake.