Earthquake insurance shakes up homeowner confidence

Oklahoma earthquake insurance coverage

After the 6.9 magnitude quake shook Northern California, standard policyholders wonder about coverage. Recent tremors over the last few days have spiked the number of calls that homeowners and earthquake insurance companies have been receiving in order to find out what type of coverage they have and to make sure that they do have protection if the “big one” should strike. The California quake has received the most attention, but there were two in South Carolina, as well. Those two rumbles were notably lower than their Californian cousin, at a…

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Magnitude 5.6 Earthquake and Aftershocks in Southwest China

Earthquake in China

According to catastrophe modeling firm AIR Worldwide, at 11:19 AM local time this morning (3:19 UTC), a magnitude 5.6 earthquake struck southeast China, 12 km south of Jiaokui. The earthquake was followed by more than 60 aftershocks including another M5.6 earthquake, which struck 1 km south of Jiaokui at 12:15 PM local time (4:16 UTC). Both earthquakes were relatively shallow, with depths of 9.9 km and 9.8 km, respectively. The highest reported intensity in population centers is around V (moderate) in Zhaotong, which is mainly an agricultural area. At this…

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Japan at risk of more strong quakes in the next four years, say seismologists

Japan is still working to recover from a massive magnitude-9.0 earthquake that rocked the nation last year. The quake generated a tsunami that claimed 20,000 lives and spurred a nuclear crisis that continues to this day. While it will certainly not be the last quake Japan experiences in its lifetime, seismologists from the University of Tokyo say that the next quake will come sooner than expected. According to researchers, there is a 70% chance that the nation will be hit by a powerful quake of magnitude-7.0 or higher within four…

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AIR Estimates Losses from Turkey’s Van Earthquake at Between 100 million TRY (55 million USD) and 300 million TRY (170 million USD)

Catastrophe modeling firm AIR Worldwide estimates that insured losses from the M7.2 earthquake that struck eastern Turkey Sunday, October 23rd, near the city of Van will be between 100 million TRY (55 million USD) and 300 million TRY (170 million USD). (The range in losses results from uncertainties that exist in estimating earthquake source parameters e.g., magnitude, rupture length, depth, dipping angle, etc.)  Today, the third day since the Van earthquake, aftershocks continue in eastern Turkey. At least 400 aftershocks above M 3.0 have been reported in total, with the…

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