News & Events


News 2010

Dec 10

Cambridge Centre for Risk Studies 2nd Annual Meeting
Theme – The Human Dimension of Risk: Perception, Behaviour and Decision-Making in Risk Management

Professor Haresh Shah (Chairman of ICRM Advisory Board) and Professor Pan T-C (Executive Director of ICRM) were invited to a 2-day conference hosted by the Cambridge Centre for Risk Studies, University of Cambridge Judge Business School on 8 and 9 December 2010.

This second annual conference further developed the theme of the first conference: Managing the Risk of Catastrophic Failure of Complex Systems. The first conference explored improving resilience to societal and economic risk through many different examples of the risk of failure of infrastructure, communications networks, biological systems, complex engineering and financial markets, while the second conference was structured to address three primary themes of human interaction with risk, with sessions on perception, behavior and decision-making.

On the first day, Professor Pan was one of the panelists of plenary session 1 “Cultures in Crisis: Challenges of Managing Perception and Governance”, moderated by Mr Andrew Freeman, Executive Director, Deloitte Center for Financial Services. During plenary session 2, Professor Shah spoke on the topic “Insights from the Asian Micro-Insurance Markets: How the Last Mile Can Be Connected”.

» Download Prof Shah’s slides (PDF)

About Cambridge Centre for Risk Studies

The Centre for Risk Studies is a multidisciplinary centre of excellence for the study of the management of economic and societal risks. The Centre's focus is in the analysis, assessment, and mitigation of global vulnerabilities for the advancement of political, business and individual decision makers.


Dec 10

Global Earthquake Model (GEM) Progress Review Meeting in Singapore

NTU, through ICRM, hosted the Global Earthquake Model (GEM) Progress Review Meeting from 1 to 3 December 2010. Members of the GEM Scientific and Governing Boards, as well as representatives of the Model Facility and Global Components were brought together for plenary sessions and focus group meetings. Various GEM components, ongoing activities and developments were shared and discussed, to see how work on GEM could be better integrated and developed.

GEM website


Sep 10

Aon Benfield-NTU PhD Research Award Gift Agreement Signing Ceremony

Aon Benfield Asia Pte Ltd has pledged a gift of S$400,000 to establish the Aon Benfield–NTU PhD Research Award at the Institute of Catastrophe Risk Management (ICRM), NTU. It is a privilege to partner Aon Benfield, the world’s premier reinsurance intermediary and capital advisor, in this PhD research endeavour.

About Aon Benfield

More details:


Aug 10

Tripartite MOU signed among Beijing Normal University, Risk Management Solutions, Inc. and ICRM/NTU

On 16 and 17 August 2010, Academy of Disaster Reduction and Emergency Management (ADREM) of Beijing Normal University, China, Risk Management Solutions, Inc. (RMS), California, USA, and Institute of Catastrophe Risk Management (ICRM) of Nanyang Technological University in Singapore had the first meeting toward the establishment of a tripartite cooperation on Asian disaster risks.

An MoU was signed to promote strategic cooperation for the better management of catastrophe risks, and to pursue a common intent to promote and develop the study of catastrophe risk modelling and related education.


ADREM is an academy closely focusing on disaster risk reduction and emergency management issues co-issued by the Ministry of Education and the Ministry of Civil Affairs, P.R. China. By assimilating advanced science and technologies, ADREM strives to be a national research base and educating center for disaster reduction and emergency management in China.

About RMS

RMS is the world's leading provider of products, services, and expertise for the quantification and management of catastrophe risk. Founded at Stanford University in 1988, RMS offers technology and services for the management of insurance catastrophe risk associated with natural perils such as earthquakes, hurricanes, and windstorms, as well as products for weather derivatives and enterprise risk management for the P&C insurance industry. Today, RMS also leads the market in risk modeling for man-made disasters associated with acts of terrorism, and has released the first infectious disease model.


May 10

Global Earthquake Model (GEM) Workshop 2010 – Southeast Asia Regional Initiative

Southeast Asia and Oceania: The first Global Earthquake Model (GEM) Workshop for the region was successfully conducted on 26 – 27 May 2010 in Singapore.

During this Workshop, speakers from various countries, inclusive of Australia, Indonesia, Myanmar, New Zealand, Philippine, Thailand, Vietnam and Singapore, presented the various methodologies and techniques developed by their own countries to deal with earthquake events. The primary focus of these presentations was on minimising damages and casualties faced by the countries.


May 10

Executive Director of ICRM Delivered Keynote Lecture at the Tenth International ROSE School Seminar 2010

The 10th International ROSE School Seminar took place in Pavia, Italy on 20 and 21 May 2010. The annual Seminar has the tradition of inviting a prominent scientist to deliver a keynote lecture on a given contemporary and highly relevant topic in the field of Earthquake Engineering. This year, Professor Pan Tso-Chien, Dean of College of Engineering and Executive Director of the Institute of Catastrophe Risk Management (ICRM), was invited to deliver a keynote address titled “Seismic Hazard of Low/Moderate Seismicity Regions”.

The Seminar also provided the Masters and PhD students of the Centre for Post-Graduate Training and Research in Earthquake Engineering and Engineering Seismology (ROSE School) with an opportunity to present and discuss their research work to an audience of international earthquake experts, as well as to the ROSE faculty and students.

About ROSE School

The ROSE School is located at the European Centre for Training and Research in Earthquake Engineering (EUCENTRE: in Pavia, a historical town in the North of Italy (35 km from Milan) full of University tradition and fame.

About Collegio Cardinale Riboldi

The Seminar was held at the Collegio Cardinale Riboldi, a landmark structure dating back to the second half of the seventeenth century, purposely refurbished to serve as an international hosting facility for postgraduate students and visiting scholars working in the field of natural risk mitigation.



Apr 10

Chairman of Bangladesh Insurance Association attends micro-insurance forum

Bangladesh's The New Nation online (10 Apr 10) briefly reported that Mr AKM Rafiqul Islam, Chairman, Bangladesh Insurance Association left Dhaka was attending the fourth Micro-Insurance Round-Table Forum, jointly organised by NTU and Risk Management Solutions (RMS) of USA. The report noted that a large number of delegates from leading insurance companies of the world were expected to attend the forum

Jan 10

NTU launches The Institute of Catastrophe Risk Management (ICRM)

NTU has launched The Institute of Catastrophe Risk Management (ICRM) which will study the long-term cost of disasters in the region, which have become more common and destructive in the past few years. From there, ICRM hopes to come up with proposals for governments and industry to reduce the amount of damage caused by catastrophes.

Professor Haresh Shah, a member of the NTU's board of trustees, said that a multi-disciplinary field is needed to develop disaster mitigation strategies. Prof Shah added that the new institute is going to create a clean, reliable and robust database of all catastrophes, historical and current. NTU President Dr Su Guaning said that ICRM will collaborate with the finance industry, institutions and think-tanks to build up industry benchmarks and indices to reflect uniquely Asia catastrophe risks.

More details


Jan 10

NTU launches the first multi-disciplinary catastrophe risk management research institute of its kind in Asia

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NTU’s new Institute of Catastrophe Risk Management is the first multidisciplinary research institute of its kind in Asia

In 2009, more than 800 natural disasters occurred around the world. These included the devastating earthquakes of Indonesia, winter storm Klaus that swept across Europe, and Typhoons Ketsana and Morakot which hit parts of Asia.

Besides high death tolls, these natural calamities left a trail of destruction resulting in US$50b in economic losses. The recent earthquake in Haiti is a stark reminder that the incidence of such hazards seems to be rising.

To enable the international community to better understand the characteristics of risks related to disasters, NTU has launched the Institute of Catastrophe Risk Management (ICRM) – a multidisciplinary catastrophe risk management research institute and the first of its kind in Asia.

More details

Managing catastrophe

Not long after the recent Haiti earthquake, the Institute of Catastrophe Risk Management (ICRM) opened in NTU, aiming to develop research in the area of disaster mitigation.

The recent catastrophe highlights the institute's importance and the need to study ways to alleviate after effects of natural disasters.

The centre aims to provide information on Asian cities, predict outcomes and provide solutions to lessen damage in the event of a disaster.