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Sichuan Earthquake Recovery


Sichuan Earthquake Recovery Earlier this week an earthquake measuring 6.6 struck China's Sichuan province damaging thousands of buildings, cutting off water and electricity supplies and triggering landslides.  Over 200 people have been killed, with nearly 12,000 injured, and tens of thousands made homeless.

The rescue operation is being hampered by collapsed roads, broken telephone lines and regular aftershocks.

The quake occurred 85km south of the epicentre of the 2008 earthquake which killed nearly 70 000 people.  Economic losses for the 2008 7.9 quake in Sichuan, which destroyed infrastructure and properties extensively, amounted to $124bn while the total insured losses were approximately $366m.

At the moment, claim statistics for the province's most recent quake are scarce and the losses are still developing, although according to the Chinese Insurance Regulatory Commission, insurers are expected to pay 124m Yuan ($23m) in claims.  Over time, it is likely that this figure will increase.

There are many losses from such incidents that are irreplaceable but insurers go some way to help those affected recover from such catastrophic events.   Loss adjusters, for example, are responsible for helping insurance companies and policyholders resolve complex claims that occur from events like natural disasters.  Often, the loss adjuster will be the only person the policyholder will meet so it is essential to possess good communication and empathy skills.

If this is the type of role you think you might be suited to you might be interested to know that Crawford & Company, a major global loss adjuster, are looking for a graduate to join their team.  To find out more click here.
 
For a more detailed description of what the role of a loss adjuster includes why not take a quick glance at Paul Hill's vidcast on the case study page.

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