Tallying Tsunami Losses

April 18, 2011

Damage estimates from the March tsunami resulting from the Japanese 9.0 magnitude earthquake have increased.

California Emergency Management Agency spokesman Brad Alexander said the most recent damage estimate was $48 million, $4 million more than a previous estimate.

Harbors in Santa Cruz, Crescent City and Fort Bragg were among the hardest hit. State officials have requested a federal disaster declaration.

Meanwhile, Hawaii estimates the tsunami caused private property damage amounting to $22 million, with $16 million of that total on the Big Island.

Hawaii Gov. Neil Abercrombie asked for a disaster declaration from the Small Business Administration to enable private property owners to seek loans to repair and replace damaged materials.

Topics Catastrophe Natural Disasters Profit Loss

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Insurance Journal Magazine April 18, 2011
April 18, 2011
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