An earthquake insurance for residential and non-engineered masonry building in Surabaya City

A. Ardiansyah; S. L. Gunawan; W. H. Pramujati; E. R.M. Putri; P. P. Oktaviana; C. B. Nurcahyo

doi:10.1088/1755-1315/1015/1/012010

An earthquake insurance for residential and non-engineered masonry building in Surabaya City

A. Ardiansyah, S. L. Gunawan^*, W. H. Pramujati, E. R.M. Putri, P. P. Oktaviana, C. B. Nurcahyo

^*Corresponding author for this work

Institut Teknologi Sepuluh Nopember

Research output: Contribution to journal › Conference article › peer-review

1 Citation (Scopus)

Abstract

This study presents the valuation of premium of the earthquake insurance based on the new potential earthquake in Surabaya. The potential earthquake is estimated as the recently declared facts that there are two segments of Kendeng fault cross the city. Two types of buildings are considered, the residential and non-engineered masonry buildings, to be the loss due to the earthquake. The loss model found based on the two type of buildings are 3-parameter lognormal distributions. A collective risk model is developed and the premium is calculated based on the expected value principle. The value at risk is also calculated to measure the total potential loss in the city based on the two type of buildings.

Original language	English
Article number	012010
Journal	IOP Conference Series: Earth and Environmental Science
Volume	1015
Issue number	1
DOIs	https://doi.org/10.1088/1755-1315/1015/1/012010
Publication status	Published - 4 May 2022
Event	2021 International Conference on Post Pandemic Cities: A Paradigm Shift?, CITIES 2021 - Virtual, Online Duration: 20 Oct 2021 → 21 Oct 2021

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10.1088/1755-1315/1015/1/012010

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title = "An earthquake insurance for residential and non-engineered masonry building in Surabaya City",

abstract = "This study presents the valuation of premium of the earthquake insurance based on the new potential earthquake in Surabaya. The potential earthquake is estimated as the recently declared facts that there are two segments of Kendeng fault cross the city. Two types of buildings are considered, the residential and non-engineered masonry buildings, to be the loss due to the earthquake. The loss model found based on the two type of buildings are 3-parameter lognormal distributions. A collective risk model is developed and the premium is calculated based on the expected value principle. The value at risk is also calculated to measure the total potential loss in the city based on the two type of buildings.",

author = "A. Ardiansyah and Gunawan, {S. L.} and Pramujati, {W. H.} and Putri, {E. R.M.} and Oktaviana, {P. P.} and Nurcahyo, {C. B.}",

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AU - Gunawan, S. L.

AU - Pramujati, W. H.

AU - Putri, E. R.M.

AU - Oktaviana, P. P.

AU - Nurcahyo, C. B.

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N2 - This study presents the valuation of premium of the earthquake insurance based on the new potential earthquake in Surabaya. The potential earthquake is estimated as the recently declared facts that there are two segments of Kendeng fault cross the city. Two types of buildings are considered, the residential and non-engineered masonry buildings, to be the loss due to the earthquake. The loss model found based on the two type of buildings are 3-parameter lognormal distributions. A collective risk model is developed and the premium is calculated based on the expected value principle. The value at risk is also calculated to measure the total potential loss in the city based on the two type of buildings.

AB - This study presents the valuation of premium of the earthquake insurance based on the new potential earthquake in Surabaya. The potential earthquake is estimated as the recently declared facts that there are two segments of Kendeng fault cross the city. Two types of buildings are considered, the residential and non-engineered masonry buildings, to be the loss due to the earthquake. The loss model found based on the two type of buildings are 3-parameter lognormal distributions. A collective risk model is developed and the premium is calculated based on the expected value principle. The value at risk is also calculated to measure the total potential loss in the city based on the two type of buildings.

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DO - 10.1088/1755-1315/1015/1/012010

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T2 - 2021 International Conference on Post Pandemic Cities: A Paradigm Shift?, CITIES 2021

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An earthquake insurance for residential and non-engineered masonry building in Surabaya City

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