Earthquakes News

Natural Disaster Losses Hit Five-Year High in April: Aon Catastrophe Report

The global economy suffered the worst April natural disaster losses for five years, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. Earthquakes, convective storms and flooding contributed to the worldwide devastation, said Impact Forecasting, noting that a significant proportion of …

Ecuador to Raise Taxes, Sell Assets to Fund Multi-Billion Dollar Quake Rebuilding

Ecuador will temporarily increase some taxes, sell assets, and may issue new bonds on the international market to fund a multi-billion dollar reconstruction after a devastating 7.8 magnitude quake, a somber President Rafael Correa said on Wednesday [April 20]. The …

Japanese Earthquakes Could Cost Insurers $2.9 Billion: AIR Worldwide

An earthquake that struck southern Japan on April 16 will probably cost insurers as much as 320 billion yen ($2.9 billion), according to catastrophe modeler AIR Worldwide. The cost might be as low as 180 billion yen, the company said …

Ecuador Earthquake’s Death Toll Rises; AIR Worldwide Comments

World leaders from the Vatican to Washington offered support to Ecuador as casualties mounted following one of the strongest earthquakes to strike the South American country in decades. The number of dead has climbed to at least 350 from 272 …

Death Toll Rises from Japanese Earthquakes; Supply Chain Disruptions Examined

The death toll from earthquakes that struck southern Japan rose to 42 and the economic impact began to reverberate Monday as companies surveyed damage and the potential effects on production from supply-chain disruptions. The quakes that struck the island of …

Sony’s Camera Chip Factory Halts Production After Japan Temblor; AIR Comments

The earthquake in southern Japan that killed nine people, damaged buildings and derailed a bullet train also halted production at a Sony Corp. camera-chip factory, a key part of the global smartphone supply chain. The plant in Kumamoto on the …

Pair of Quakes Rattle Central Portions of Oklahoma

Two earthquakes have rattled portions of Oklahoma that are becoming accustomed to experiencing many of the temblors. The U.S. Geological Survey recorded a 3.4 magnitude quake near Medford Sunday. Shortly before that, the survey recorded a 2.5 magnitude quake near the …

Swiss Re 2015 Economic Cat Loss Initial Estimates = $85Bn; $32Bn Insured

Swiss Re’s latest sigma report preliminarily estimates that total economic losses from natural catastrophes and man-made disasters will reach approximately $85 billion in 2015. Insured losses, however, were just $32 billion. In total, approximately 26,000 people lost their lives in …

3 Small Quakes Shake Central Arizona, Phoenix

Three small earthquakes rattled parts of central Arizona, jolting people in cities 160 miles apart, including parts of the Phoenix area. There were no immediate reports of injury or major damage. The U.S. Geological Survey said a magnitude 4.1 temblor …

Earthquake Swarm Around San Francisco Persists

The U.S. Geological Survey reports that in the last two weeks more than 400 small earthquakes have hit a city east of San Francisco. KNTV reported that the city of San Ramon appears to have broken an earthquake record with …