FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 10 June 2016

The San Andreas - Locked, Loaded And Ready To Go

from CoreLogic

-- this post authored by Susan Williams

In his recent keynote at the National Earthquake Conference, Thomas Jordan, director of the Southern California Earthquake Center declared that, "The springs on the San Andreas system have been wound very, very tight. In particular, the southern San Andreas fault looks like it's locked, loaded and ready to go."

The San Andreas Fault system is the boundary between the Pacific and North America tectonic plates and stretches from Cape Mendocino in northern California to the Mexican border. The Pacific plate is slipping northwards along the North America plate, taking cities such as Los Angeles, San Diego, Santa Barbara, San Francisco and Monterey along for the ride, while other California cities sit directly in the fault zone.

The San Andreas Fault zone is composed of many segments that can move independently of other segments. Historically, earthquakes have occurred along the southern zone of the San Andreas without accompanying movement along its northern segments. To complicate matters, the San Andreas also intersects with many other, smaller faults along its length. While seismologists have estimated that earthquakes should be relieving about 16 feet of accumulated movement every 100 years along the San Andreas, some segments of the fault zone have seen no significant earthquakes for over 100 years. The many smaller Southern California earthquakes have not adequately relieved the stress along this fault zone.

On a panel hosted by the California Earthquake Authority (CEA) at the National Earthquake Conference, Maiclaire Bolton, CoreLogic® senior product manager for global earthquake products, shared how scientists at CoreLogic have used the latest comprehensive Uniform California Earthquake Rupture Forecast version 3 (UCERF3) along with the 2014 United States Geological Survey (USGS) National Seismic Hazard Model to create catastrophe models that enable better understanding of the risk associated with earthquakes. Because the models take into account the probability of multi-segment ruptures along such faults as the San Andreas, there is an enhanced ability to evaluate the full extent of earthquake risk exposure when events trigger other events either on the same fault or a nearby fault.

A 2008 USGS report based on a simulation of a magnitude 7.8 earthquake on the southern San Andreas Fault warned that such an earthquake could cause more than 1,800 deaths, 50,000 injuries and $200 billion in damage along with severe, long-lasting disruptions.

So what can homeowners do to protect themselves and their property against the next "big one"? First, they should investigate their level of risk. The USGS has online earthquake risk maps for all of the United States; because while this blog focuses on California, it is not the only state in which homeowners are subject to earthquake risk. Since typical homeowner's policies don't cover earthquake damage, an additional earthquake policy is a smart first move if the property is within a high-risk area. In the past, some homeowners assumed that earthquake coverage was too expensive. However, what many may not know is that rates for earthquake policies from the California Earthquake Authority (CEA) have come down and now include more deductible flexibility. Click here to access the USGS's new premium calculator.

Also, homeowners should review their regular homeowner's policy. Is it up to date and does it provide adequate coverage in case of loss? Fires from exploding gas lines and downed power lines as well as water damage from broken water lines are common events following major earthquakes

Retrofitting older homes to mitigate earthquake risk can potentially lower insurance premiums. To help with the cost of retrofitting, California has a Brace + Bolt program which offers financial incentives to certain homeowners in a limited number of higher-seismic-risk zip codes. Simple things like making sure the strapping on water heaters are secure, anchoring large bookcases, TVs, and pictures to the wall and knowing where and how to shut off gas and water valves can help homeowners protect their home and belongings.

Finally, everyone should know what to do during an earthquake - DROP! COVER! HOLD ON! Every at-risk family should have an earthquake plan that includes who to contact and where to meet if an earthquake hits. Many websites including the CEA, the Great ShakeOut earthquake preparedness movement, and most municipalities have information and checklists available on how homeowners can better prepare for the next "big one."

© 2016 CoreLogic, Inc. All rights reserved.


>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
A New Era of Central Banking?
Is Free Trade Harming the Economy?
News Blog
Ranking The US's Presidents Isn't Just A Game For Americans
Canada's Best Employers 2017
What We Read Today 22 February 2017
01 February 2017 FOMC Meeting Minutes: Little Seems to Have Changed Since the Previous Meeting
An Inside Look At Doomsday Bunker Homes With A Price Tag Of 2 Million
January 2017 Headline Existing Home Sales Surprisingly Good
China Moves To Put North Korea In Its Place
Trucking Data Improves In January 2017
February 2017 Chemical Activity Barometer Has Strong Gain
Infographic Of The Day: 2017's Top New Year's Resolutions
Early Headlines: Asia Stocks And Dollar Up, Oil And Gold Steady, Nat Gas Plunges, Fed's Williams Says Low Rates Will Last, Steep UK Brexit Bill, Greek Poverty, China Stocks Look Up? And More
Climate of the Southwest
Did the Romans Create both Christianity and Islam?
Investing Blog
The Real 401k Plan Manager 20 February 2017 Technical Summary 21 February 2017
Opinion Blog
The Blame Game
Fascism Defined And Described By Oswald Mosley
Precious Metals Blog
Deflation And Gold: A Contrarian View
Live Markets
22Feb2017 Market Close: Wall Street Passes On New Highs Except For The DOW, Interest Rate Hike May Come Sooner Rather Than Later
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved