Long Duration Blackout Potential in the US

Verisk Insurance Solutions 2013 Risk Symposium, London, UK
June 24, 2013

Superstorm Sandy, Hurricane Irene, and recent winter storms, like the Blizzard of 2013, demonstrated that blackouts are not only an inconvenience, they’re also a material source of risk for commercial insurers. Blackouts result in covered losses to business interruption and other time element exposures, result in damage to contents when voltage spikes occur, and can result in insulated fire losses when unattended systems come back on line. Geomagnetic disturbances are at the upper limit of blackout risk, potentially affecting multiple continents and resulting in infrastructure damage that could take months to repair.

Nicole Homeier, Ph.D., discusses Long-Duration Blackout Potential in the United States. AER’s two-year research collaboration with the insurance industry into the effects of geomagnetic disturbances on the North American electrical grid draws lessons that apply to other continents and other sources of blackout risk to help you stay up to date with emerging trends and risks in Europe and the United States.

Nicole Homeier, Ph.D., is a senior staff scientist and manages the research collaboration with the insurance industry about geomagnetic disturbances.

Kyle Beatty, Senior Vice President of AER, will be leading a round table discussion on Finding the Opportunity in Emerging Risks. View the full agenda for the Verisk Insurance Solutions 2013 Risk Symposium.