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# February 22, 2016: Canterbury Continues to Shake, Mixing Reinsurance, Cat Bonds and Fiji Faces a Long Recovery
- URL: https://www.riskmarketnews.com/february-22-2016-canterbury-continues-to-shake-mixing-reinsurance-cat-bonds-and-fiji-faces-a-long-recovery/
- Published: 2016-02-22T06:32:30.000Z
- Updated: 2016-02-22T06:32:30.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [Death Toll From Fiji Cyclone Mounts Amid Health Crisis Fears](http://www.reuters.com/article/us-cyclone-fiji-idUSKCN0VU0Z0?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-cyclone-fiji-idUSKCN0VU0Z0?ref=riskmarketnews.com)

The majority of the fatalities were along the western coast and were caused mainly by flying debris and drowning in storm surges.

### [CSIRO Climate Cuts Will Breach Paris Agreement and Cost Economy –Report](http://www.theguardian.com/environment/2016/feb/22/csiro-climate-cuts-will-breach-paris-agreement-and-cost-economy-report?ref=riskmarketnews.com)

#### [The Guardian](http://www.theguardian.com/environment/2016/feb/22/csiro-climate-cuts-will-breach-paris-agreement-and-cost-economy-report?ref=riskmarketnews.com)

Cuts to climate modelling and measuring research contradict Australia’s pledge to strengthen commitments to climate science.

### [Five Years, 14,000 Quakes, and a New South Island](http://www.stuff.co.nz/the-press/news/christchurch-earthquake-2011/76695196/Five-years-14-000-quakes-and-a-new-South-Island?ref=riskmarketnews.com)

#### [Press New Zealand](http://www.stuff.co.nz/the-press/news/christchurch-earthquake-2011/76695196/Five-years-14-000-quakes-and-a-new-South-Island?ref=riskmarketnews.com)

14,000 earthquakes since 2010 introduced a Canterbury no one expected to ever see, far different from the one that was supposed to be.

### [In Zika Epidemic, a Warning on Climate Change](http://www.nytimes.com/2016/02/21/world/americas/in-zika-epidemic-a-warning-on-climate-change.html?%5Fr=0&ref=riskmarketnews.com)

#### [New York Times](http://www.nytimes.com/2016/02/21/world/americas/in-zika-epidemic-a-warning-on-climate-change.html?%5Fr=0&ref=riskmarketnews.com)

Recent research suggests that under a worst-case scenario, the number of people exposed to the principal mosquito in disease spread could more than double.

## Risk Business: What You Need to Read Today

### [Reinsurance or Cat Bond? How to Optimally Combine Both](http://ssrn.com/abstract=2735954?ref=riskmarketnews.com)

#### [SSRN ](http://ssrn.com/abstract=2735954?ref=riskmarketnews.com)

New research argues It is optimal to cover small losses using reinsurance and hedge higher losses by issuing a cat bond.

### [Fears Revealed Over End to ‘Tax Havens’](http://www.royalgazette.com/article/20160220/NEWS01/160229965?ref=riskmarketnews.com)

#### [Royal Gazette](http://www.royalgazette.com/article/20160220/NEWS01/160229965?ref=riskmarketnews.com)

“Bermuda will be sucked down that vortex. This is a classic case of having to be careful what you wish for.”

### [Loss Creep Returns to Canterbury](https://www.interest.co.nz/opinion/80204/cam-prestons-take-whats-really-happening-christchurch-5-years-after-big-earthquake?ref=riskmarketnews.com)

#### [Interest.nz](https://www.interest.co.nz/opinion/80204/cam-prestons-take-whats-really-happening-christchurch-5-years-after-big-earthquake?ref=riskmarketnews.com)

Insurers officially ran out of reinsurance for the 2011 Christchurch earthquake this year, meaning, five years after the devastation, the cash to settle claims is now coming from their shareholders.

### [Smart Beta ‘Could Go Horribly Wrong’](http://www.ft.com/intl/cms/s/0/a7d3778e-d71f-11e5-829b-8564e7528e54.html?ftcamp=published%5Flinks%2Frss%2Fhome%5Fus%2Ffeed%2F%2Fproduct&ref=riskmarketnews.com#axzz40tTbqw8L)

#### [Financial Times (sub may be required)](http://www.ft.com/intl/cms/s/0/a7d3778e-d71f-11e5-829b-8564e7528e54.html?ftcamp=published%5Flinks%2Frss%2Fhome%5Fus%2Ffeed%2F%2Fproduct&ref=riskmarketnews.com#axzz40tTbqw8L)

Smart beta, one of the most popular investment strategies of the past 12 months, could go “horribly wrong” and leave investors nursing large-scale losses.