quake News

Twenty Years Later Big Lesson From Northridge Quake Lost

Twenty years ago today a big one hit the Los Angeles area, killing several people and injuring thousands, damaging tens of thousands of properties, shutting down businesses, putting out of operation some of the nation’s busiest freeways and radically changing …

Los Angeles Councilman Proposes Quake Building Inventory

A Los Angeles councilman is urging the city to find and list the potentially thousands of buildings that could collapse in an earthquake. Tom LaBonge is proposing a city inventory of so-called “soft-story” buildings – those where the top stories …

Claim That Quake Caused Utah Mine Disaster Rejected

A University of Utah study had rejected a company’s claims concerning the cause of a 2007 collapse at Utah’s Crandall Canyon coal mine that killed nine people. The scientists presented findings of their research last week at the Seismological Society …

Quake Tests Looks For Ways To Shore Up California Hospitals

What happens when a series of massive earthquakes hits a five-story medical facility with an intensive care unit, operating room and elevator? Structural engineers at the University of California, San Diego, hope to find out by repeatedly shaking such a …

Minor Earthquake Shakes North-Central Utah

Scientists say a minor earthquake has shaken the Utah Valley, but apparently causing no injuries or property damage. The University of Utah Seismograph Stations report the magnitude 3.7 quake occurred around 4:27 a.m. Saturday. The epicenter of the shock was …

Everest Re Estimates Thai Flood Losses at $100 to $125 Million

The Bermuda-based Everest Re Group announced that it expects to incur net losses of between $100 million and $125 million, after reinstatement premiums and taxes, for claims arising from floods in Thailand. The bulletin said the range was “predicated on …

S&P Puts Montana Re Cat Bonds on CreditWatch Negative after Japan Quake

Standard & Poor’s Ratings Services has placed its ‘B- (sf)’ rating on Montana Re Ltd.’s Class E notes on CreditWatch with negative implications. The notes, totaling $210 million, were originally placed at the end of December 2010 by Flagstone Re.  S&P explained that …

Swiss Re Reaffirms Commitment to Japanese Market

Swiss Re issued a statement which stressed that it is “committed to the Japanese insurance market and to supporting the country’s recovery from the devastating earthquake and tsunami which claimed many lives last week.” Chief Executive Stefan Lippe added: “We …

Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares

Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts pegged the …

EQECAT Analyzes Specific Exposures from Japan Quake/Tsunami

Catastrophe modeling firm EQECAT has issued a bulletin describing the potential insured market losses and summarizing the various impacts of Japan’s insurance market with its specific inclusions and exclusions. Earthquake Shaking (EQ Shake) EQECAT identified this as the biggest exposure …