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# January 8, 2016: Bracing for a Big One in Oklahoma and a Possible Billion Dollar Gas Blast Claim
- URL: https://www.riskmarketnews.com/january-8-2016-bracing-for-a-big-one-in-oklahoma-and-a-possible-billion-dollar-gas-blast-claim/
- Published: 2016-01-08T07:54:48.000Z
- Updated: 2016-01-08T07:54:48.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [Earthquakes in Oklahoma Raise Fears of a Big One](http://www.nytimes.com/2016/01/08/us/earthquakes-in-oklahoma-raise-fears-of-a-big-one.html?ref=riskmarketnews.com)

#### [New York Times](http://www.nytimes.com/2016/01/08/us/earthquakes-in-oklahoma-raise-fears-of-a-big-one.html?ref=riskmarketnews.com)

Some experts said recent quakes hinted at the possibility of a larger shock.

### [Bushfire Destroys Nearly 100 Homes in Western Australia, Missing People Found](http://www.reuters.com/article/us-australia-fire-idUSKBN0UM0CO20160108?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/us-australia-fire-idUSKBN0UM0CO20160108?ref=riskmarketnews.com)

The bushfire continues to threaten other beef and dairy producing towns in the state.

### [Extreme Weather Wiped Out a Tenth of the World’s Cereal Production](https://news.vice.com/article/extreme-weather-wiped-out-a-tenth-of-the-worlds-cereal-production?ref=riskmarketnews.com)

#### [Vice News](https://news.vice.com/article/extreme-weather-wiped-out-a-tenth-of-the-worlds-cereal-production?ref=riskmarketnews.com)

Researchers have found that droughts and heat waves reduced global production of wheat, rice and barley up to 10 percent.

### [U.S. Weather Wet And Wild In 2015, Though No Big Hurricanes](http://www.npr.org/2016/01/07/462265900/u-s-weather-wet-and-wild-in-2015-though-no-big-hurricanes?ref=riskmarketnews.com)

#### [NPR](http://www.npr.org/2016/01/07/462265900/u-s-weather-wet-and-wild-in-2015-though-no-big-hurricanes?ref=riskmarketnews.com)

Climate and a very strong El Nino pushed the average temperature in the U.S. up over its 20th century average by 2.4 degrees Fahrenheit.

## Risk Business: What You Need to Read Today

### [Insurers Brace for the Self-Driving Future and Fewer Accidents](http://www.nytimes.com/2016/01/08/automobiles/insurers-brace-for-the-self-driving-future-and-fewer-accidents.html?ref=business)

#### [New York Times](http://www.nytimes.com/2016/01/08/automobiles/insurers-brace-for-the-self-driving-future-and-fewer-accidents.html?ref=business)

As autonomous driving technology advances, perhaps the most notable benefit is the promise of a striking reduction in accidents.

### [Claims in Porter Ranch Gas Leak Could Cost Utility Billions of Dollars](http://www.latimes.com/business/la-fi-socalgas-liability-20160108-story.html?ref=riskmarketnews.com)

#### [LA Times](http://www.latimes.com/business/la-fi-socalgas-liability-20160108-story.html?ref=riskmarketnews.com)

Policies following the gas explosion, the utility said, have a combined limit available “in excess of $1 billion.”

### [Tianjin Blasts a Blip as Marine Insurance Prices Keep Falling – Broker](http://www.reuters.com/article/tianjin-reinsurance-rates-idUSL8N14R20220160107?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/tianjin-reinsurance-rates-idUSL8N14R20220160107?ref=riskmarketnews.com)

Reinsurance rates in the marine sector continued to fall at the start of the year, in spite of the huge cost of explosions at China’s Tianjin port last August.

### [High-Cost Products Fuel Chinese Insurer’s Big Deals](http://www.wsj.com/articles/high-cost-products-fuel-chinese-insurers-big-deals-1452229382?ref=riskmarketnews.com)

#### [Wall Street Journal (sub may be required)](http://www.wsj.com/articles/high-cost-products-fuel-chinese-insurers-big-deals-1452229382?ref=riskmarketnews.com)

There was also a proposal earlier to have two different pools, one for below poverty line and one for above, but that has now been scrapped.