China nearly lost its supercomputer in the blast at port of Tianjin this week. Fortunately the decision taken by the authorities to shut down the supercomputer saved it. The building of the national computer center in which the supercomputer Tianhe-1A was kept suffered damages. Now insurance company Eurasia is estimating the total amount of loss by the series of explosions.
Eurasia said that losses from such disasters are usually very high and often costs more than 100 million dollars. Thus, a reliable insurance company should be chosen that can bear such heavy losses. Due to this, company owners often look at the past records including payment history before choosing the insurance company.
“Insurance company Eurasia, which is actively cooperating with China on reinsurance projects, has already received notification of the insured event and after considering all the documents will begin to make insurance payments. Today, Eurasia, one of the few companies in the CIS insurance market, which has sufficient experience in the insurance, claims settlement of this scale and financial capacity to participate in major international projects,” the Company said.
If reports are to believed then total damage cost has already been estimated by the company. “According to unofficial data, the total cost of the damage on the burned cars is estimated at over $50 million. In total, the fire destroyed more than 4,000 cars that can not be restored. Also, huge damage was caused to the property and marine cargo. There is information that the burned-out warehouses suffered a loss of $344 million. The blast was so strong that China was forced to disconnect supercomputer Tianhe-1A. The building of the national computer center in which it is placed, suffered injuries. It is noted that the computing system itself was not damaged, but has been disabled for security reasons,” the Company emphasized.
Eurasia, compared such a catastrophic even with the explosion of the island of Cyprus at the navy base Evangelos Florakis occurred back in 11 July 2011. It resulted in heavy loss as series of blasts occurred due to near by containers with ammunition detonated.
Tianjin is a major port and industrial city located 96 km to south-east of Beijing. Nearly 15 million people find home in Tianjin.Tags: blast, China, Insurance, supercomputer