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Represented by John Schneider and Andres Abarca, GEM participated in the Aon Impact Forecasting Revealed 2023 Roadshow that took place in April and May. This event focused on the latest advancements in earthquake hazard and risk modeling and included a specific emphasis on the GEM-Aon collaboration on Impact Forecasting’s new Canada earthquake model.

John (R) and Goran Trendafiloski of Aon Impact Forecasting at Aon's New York office.

The Roadshow highlighted the alarming fact that cumulative earthquake damage since 2000 exceeded $1 trillion last year, underscoring the pressing need to address this global issue. Although Canada's contribution to this damage has been relatively low, earthquake perils remain a significant concern for the country.

Through collaboration with GEM, Impact Forecasting has enhanced its suite of models for earthquake hazards and risks, incorporating the most up-to-date scientific knowledge, including Canada’s newly released 6th generation Seismic Hazard Model by Natural Resources Canada (NRCan). GEM played an important role in assisting NRCan with the development of hazard and risk models using OpenQuake. Impact Forecasting further developed the model for financial loss/insurance applications, including the addition of secondary effects of fire-following earthquakes, liquefaction, and landslides.

In addition to the Canada model, attendees were informed of upcoming earthquake models for Italy, Switzerland, Singapore, and South Korea, also developed in collaboration with GEM.  

The Aon Impact Forecasting Revealed 2023 Roadshow was a very useful platform for networking and knowledge exchange with industry leaders. John and Andres participated in events held in New York, Bermuda, and Zurich on April 25th, April 28th, and May 23rd respectively. These events also provided an important forum for networking with current and prospective GEM sponsors and collaborators, with significant interest identified for other GEM hazard and risk model products. 

We extend our gratitude to all the participants who made this Roadshow a memorable and impactful event.