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Forum Materials: 

• What's Causing Oklahoma's Earthquakes?
  Jeremy Boak, PhD; Director, Oklahoma State Geological Survey
  Powerpoint Presentation
• Construction Methods to Mitigate the Impact of Earthquakes
  Christopher Ramseyer, PhD, PE; Director, University of Oklahoma's Fears Structural Engineering Labatory

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• Insurance Options to Protect your Property
  Buddy Combs, JD
  Director Public Policy & Assistant General Counsel, Oklahoma Insurance Department

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After lunch, Trent England (VP Vice President for Strategic Initiatives at Oklahoma Council for Public Affairs) lead a brainstorming session where you can help our panelists develop ideas for how our industries can work together to deal with the increasing frequency of earthquakes and make recommendations for the future.

CE Credit was available for:

• Attorneys (Oklahoma Bar Association: 4 hr, no ethics)
• Real Estate (Oklahoma Real Estate Commission: 3 hr)
• Insurance (1 hr) for Buddy Combs' presentation

Contact: info@cocar.org

2016 Event Sponsor

The Central Oklahoma Commercial Association of REALTORS©
presented the 2016 Oklahoma Commercial Real Estate Forum™

2016 Exhibitors

Grant

Presented by:

Save the Date:

Commercial Real Estate Summit ™

March 30, 2017 at the University of Central Oklahoma's Nigh University Center (Garland Godfrey & E Main, Edmond).

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Save the Date - for the next

    Oklahoma Commercial Real Estate Forum™

Wednesday, September 13, 2017

Topic: Municipal Funding

Questions from the 2016 Oklahoma Commercial Real Estate Forum ™ : Earthquakes 

1. How should Seismic maps take into account factors involving manmade earthquakes, such as those found earth moving events in the Arbuckle Formation?  
2. Will insurance companies or property owners without earthquake coverage be able to recover damages from earthquakes near the Arbuckle Formation? If so, how will this impact an industry that represents 10% of the state's economy and 20% of its tax collections?
3. Should Oklahoma ban the importation of oil and gas production wastewater for injection in disposal wells?
4. While it appears that newly revised residential building codes designed to accommodate EF2 tornados are also sufficient to handle the most common earthquakes, not all jurisdictions have adopted these new building codes. There is some resistance from the building community because of the added cost of construction ($1 to $2 per square foot). Is there a need for a statewide mandate to impose building codes to address both tornadoes and earthquakes?
5. Because of the differing risk characteristics of catastrophic earthquakes vs. every-day damage from earthquakes, is there a need to a new class of insurance to handle non-catastrophic earthquake damage?
6. There is concern that most insurance companies do not have reserves sufficient to handle a catastrophic event, hence many companies are withdrawing from the market. Is there a reason to establish federally (or state) subsidized earthquake insurance similar to flood insurance?

Central Oklahoma Commercial Association of Real Estate™