Evolution of seismic risk management for insurance over the past 30 years

During the past 30 years, there has been spectacular growth in the use of risk analysis and risk management tools developed by engineers in the financial and insurance sectors. The insurance, the reinsurance, and the investment banking sectors have enthusiastically adopted loss estimation tools developed by engineers in developing their business strategies and for managing their financial risks. As a result, insurance/reinsurance strategy has evolved as a major risk mitigation tool in managing catastrophe risk at the individual, corporate, and government level. This is particularly true in developed countries such as US, Western Europe, and Japan. Unfortunately, it has not received the needed attention in developing countries, where such a strategy for risk management is most needed. Fortunately, in the last five years, there has been excellent focus in developing ＂Insur Tech＂ tools to address the much needed ＂Insurance for the Masses＂, especially for the Asian Markets. In the earlier years of catastrophe model development, risk analysts were mainly concerned with risk reduction options through engineering strategies, and relatively little attention was given to financial and economic strategies. Such state-of-affairs still exists in many developing countries. The new developments in the science and technologies of loss estimation due to natural catastrophes have made it possible for financial sectors to model their business strategies such as peril and geographic diversification, premium calculations, reserve strategies, reinsurance contracts, and other underwriting tools. These developments have not only changed the way in which financial sectors assess and manage their risks, but have also changed the domain of opportunities for engineers and scientists.This paper will address the issues related to developing insurance/reinsurance strategies to mitigate catastrophe risks and describe the role catastrophe risk insurance and reinsurance has played in managing financial risk due to natural catastrophes. Historical losses and the share of those losses covered by insurance will be presented. How such risk sharing can help the nation share the burden of losses between tax paying public, the ＂at risk＂ property owners, the insurers and the reinsurers will be discussed. The paper will summarize the tools that are used by the insurance and reinsurance companies for estimating their future losses due to catastrophic natural events. The paper will also show how the results of loss estimation technologies developed by engineers are communicated to the business flow of insurance/reinsurance companies. Finally, to make it possible to grow ＂Insurance for the Masses - IFM＂, the role played by parametric insurance products and Insur Tech tools will be discussed.

Semaglutide’s Trail of Success in Weight Loss Management and HbA1c Reduction: A Systematic Review

Introduction: Obesity is a preventable health condition, yet it remains a complex relapsing global health conundrum, triggering an array of comorbidities, including diabetes, dyslipidemia, hypertension, and mental health decline. This review intends to highlight the success of semaglutide for its therapeutic intervention for weight loss management in diabetics and non-diabetics and HbA1c reduction in type 2 diabetics. Methods: We searched and systematically reviewed the literature from within the past ten years on semaglutide utilization for weight loss and HbA1c reduction. Databases investigated included PMC, JAMA, Nature Medicine, and The Lancet, resulting in four original research articles that were systematically reviewed. Web consultations with WHO, CDC, and Healthy People 2030 were conducted to ascertain epidemiological obesity and diabetes data. AAFP and USPSTF references were included for obesity management and preventive care guidelines. Results: Based on results from systematically reviewing four original research studies, semaglutide can effectively reduce elevated weight and HbA1c, using the once-weekly subcutaneous injection formulation. A composite average percent weight loss of 8.27% (16 - 20 pounds) and an average HbA1c percent reduction rate of 1.07% (3 - 4 points) were attained. There were no major adverse events reported from any of the four original research studies related to the drug. Discussion: With evidence from several studies after its FDA approval, semaglutide delivers a promise for weight loss management and HbA1c reduction for appropriate patient populations. Clinician and patient education on its proper use should be continuously revisited.

Enhanced application for FSRU recondensing equipment during periods of low or no gas send out to minimize LNG cargo losses

Most modern floating storage and regasification units(FSRU)are fitted with recondensing equipment that feed condensed boil-off gas(BOG)to the regasification unit in addition to a stream of liquefied natural gas(LNG)extracted from the cargo tanks.Use of the recondenser during regasification operations reduces gas losses on FSRU.It does so by avoiding consumption of excess BOG,with no associated commercial benefit,in gas combustion units(GCU),steam dumps,flares etc.Here we consider the benefits of also using the recondenser in recirculation mode,returning condensed BOG to the cargo tanks in the form of slightly warmed LNG.Such recirculation can be beneficial during periods of low or no gas send out from the FSRU,often achieving significant reductions in gas losses,although it is not standard practice in the industry to do so.Once regasification is halted not much BOG is required by the FSRU engine room,so the vessel must handle this excess.By condensing the BOG to LNG and returning it to the cargo tanks,the significant volume reduction involved has the beneficial impact of slowing down tank pressure increase.The saturated vapor pressure(SVP)of the LNG,linked to its composition and temperature,plays a key role in the boil-off rate and resulting cargo tank pressure changes.Detailed analysis is provided to explain how using the FSRU recondenser in recirculation mode can be best exploited by considering the prevailing fill levels,temperatures and pressures in each of the cargo tanks,and returning the condensed LNG preferentially to certain tanks.FSRU efficiency can be improved,gas losses and emissions can be reduced,and more cargo sold by exploiting the capabilities of the FSRU recondenser in recirculation mode.Running the FSRU in recirculation mode requires no equipment modifications to standard recondensers,neither does it increase FSRU operating costs.

On the Subsidy Mechanisms for Urban Public Traffi

：There is no doubt that the urban public traffic operations in China suffer losses and hence it isnecessary to study resonable subsidy mechanisms for the urban public traffic. On the basis of analyzing themodes of the urban public traffic management, we classify the financial losses into the policy loss and themanagement loss, according to whether the cost can be compensated or not. In addition, a series of criteriaare introduced in order to efficiently decide the amount of subsidy. Finally, this paper also examines the wayof bidding administration, which is considered to be promising in the future of urban public traffic.