Taiwan Earthquake

The earthquake hit at 7:58 a.m. local time, 18 kilometers (11 miles) south of the city of Hualien at a depth of 34.8 kilometers, according to the US Geological Survey.

The region where the quake struck, Hualien County, has a population of about 300,000, around 100,000 of whom live in the main city of Hualien. Many in the region live in remote coastal or mountain communities that can be hard to reach, so it might take time to understand the extent of Wednesday’s quake.

Taiwan’s national fire agency said that 71 people are trapped in two mines in Hualien. More than 91,000 households were without electricity, according to Taiwan’s Central Emergency Command Center.

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BUSINESS INTERRUPTION COVERAGE ISSUES 

• Government assistance considerations 
• Identification of the cause of loss and other contributing factors 
• Supply chain and drivers of revenue streams 
• Isolating non-loss-related factors 
• Currency and local lending considerations 
• Early involvement of the appropriate experts can help with the need for any mitigation efforts. 

MDD has considerable expertise in dealing with these types of claims and the complexities that may occur.  Experts like those of us at MDD will stress the need for proper audit protocols, controlling and sorting of costs and accounting for any potential saved expenses.