Patterns in the Turkish reinsurance claim data, 1998-2002: An application of the extreme value theory

Basbug B. B., Wynn H. P.

NATURAL HAZARDS, vol.39, no.2, pp.329-342, 2006 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 39 Issue: 2
  • Publication Date: 2006
  • Doi Number: 10.1007/s11069-006-0031-9
  • Journal Name: NATURAL HAZARDS
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Page Numbers: pp.329-342
  • Middle East Technical University Affiliated: Yes

Abstract

The devastating 1999 Marmara and Duzce earthquakes led to a significant increase in the earthquake studies in Turkey in geological, engineering and financial aspects. Extreme Value Theory (EVT) has a range of applications from stock market changes to natural disasters like floods and hurricanes. Here EVT is fitted to the ordinary and earthquake reinsurance claims of Turkey.