Earthquakes News

New Zealand Quake’s Insured Losses Estimated at $705M-$3.5B: Aon Cat Report

Insurance losses from last month’s magnitude 7.8 earthquake in New Zealand are likely to range between NZ$1.0 to 5.0 billion (US$705 million and US$3.5 billion), according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. At …

Indonesia’s M6.5 Quake Kills Nearly 100 with Low Insurance Losses Expected: AIR

An M6.5 earthquake jolted the northernmost area of Sumatra, Indonesia, on Dec. 7 at 5:03 a.m. local time, with nearly 100 fatalities and more than 600 injuries reported. The epicenter was 19 kilometers (11.8 miles) southeast of Sigli and 92.3 …

Insured Losses from Italy’s October Earthquakes Estimated at $33.3M: PERILS

The initial estimate of the property insurance market loss from the series of earthquakes that hit central Italy in October is €31 million ($33.3 million), according to PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data. Three major …

RMS Peru Earthquake Model and Actuaries Climate Index Are Launched

RMS and a group of actuarial societies each rolled out new products designed to respectively help measure risks related to earthquake and weather events. In RMS’ case, the catastrophe modeling firm gained regulatory approval in Peru to start marketing its …

Oklahoma Earthquakes: The Emerging Risk from Induced Seismicity

This post is part of a series sponsored by CoreLogic. California is typically the first place that comes to mind when one thinks of earthquake activity in the U.S. In recent years, however, the central U.S. – especially Oklahoma, northern …

Major Canada Earthquake Could Lead to Widespread Insurer Insolvencies: Report

A massive earthquake off the coast of British Columbia has the potential to cause widespread failure among insurance companies and trigger a domino effect across the financial sector, according to a Conference Board of Canada report. “As the earthquake in New Zealand earlier this month reminds …

7.4 Earthquake off Coast of Fukushima Jolts Japan; Tsunami Alert Lifted

A powerful earthquake rocked northern Japan early on Tuesday, briefly disrupting cooling functions at a nuclear plant and generating a small tsunami that hit the same Fukushima region devastated by a 2011 quake, tsunami and nuclear disaster. The magnitude 7.4 …

New Zealand EQ Insured Losses Could Top $3B: AIR Worldwide

Catastrophe modeling firm AIR Worldwide released its initial estimates of industry insured losses from the earthquake that struck New Zealand’s South Island early this week, putting a range of $762 million to $3.5 billion out for the event (NZD1.15 billion …

New Zealand Avoids Widespread Damage from Earthquake; AIR Comments

New Zealand was rocked by a powerful earthquake early Monday that killed two people and caused extensive damage to roads and businesses, but avoided the widespread destruction caused by a 2011 quake that killed 185 people. The local dollar fell. …

Hurricane Matthew Could Cost US & Caribbean Economies $15B: Aon Benfield

Hurricane Matthew, which swept through parts of the Caribbean and United States, had total economic losses of up to US$15 billion, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. In the U.S., economic losses (or non-insured losses) from …