Insurance woes spark fires in New Zealand

Christchurch New Zealand Insurance earthquake court
9 Facts about Earthquakes you shoul...
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Christchurch the home of rising insurance fraud New Zealand’s Christchurch continues to wrangle with ongoing insurance troubles amidst persistent aftershocks stemming from a major earthquake disaster in late 2010. The quake caused extensive damage throughout the Christchurch region and caused a large exodus of many of the country’s insurance providers. This flight of insurers left much of the region without insurance, which led to various government initiatives aimed at providing some amount of stability to those that still lived in the area. Now, however, a new trend has emerged within…

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Magnitude 8.6 Earthquake Off Sumatra Triggers Tsunami Warning But Causes Little Damage

BOSTON, April 11, 2012 – According to catastrophe modeling firm AIR Worldwide, this morning, a M8.6 earthquake struck off the west coast of Northern Sumatra, approximately 434 km southwest of Banda Aceh, the closest population center. According to the United States Geological Survey (USGS), the earthquake occurred at 2:38 PM local time (8:38:37 UTC) and struck at a depth of 22.9 kilometers. The main shock was followed by a series of moderate aftershocks until a little more than two hours later, when a M8.2 aftershock struck 618 km south-southwest of…

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Strong Earthquake Strikes Central Chile; No Tsunami or Significant Damage Reported

According to catastrophe modeling firm AIR Worldwide, yesterday evening, a M7.1 earthquake struck central Chile approximately 27 kilometers north-northwest of the city of Talca (approximate population of 200,000). According to the United States Geological Survey (USGS), the earthquake occurred at 7:37 PM local time (22:37:06 UTC) and struck at a depth of 34.8 kilometers. “The earthquake occurred on the subduction zone that was partially ruptured by the 2010 earthquake; it can therefore be considered another aftershock of the 2010 earthquake,” said Dr. Tao Lai, principal engineer at AIR Worldwide. “It…

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Magnitude 6.9 Earthquake Strikes Peru’s Central Coast

BOSTON, Oct. 29, 2011 — According to catastrophe modeling firm AIR Worldwide, a magnitude 6.9 earthquake occurred near the coast of central Peru today at 18:54 UTC (1:54 pm local time). According to the United States Geological Survey, the quake occurred at a depth of approximately 20 miles. Current indications from the USGS Centroid Moment Solution suggest that this was a subduction event in the collision zone between the Nazca oceanic plate and the South American continental plate. The epicenter was about 180 miles (286 kilometers) south-southeast of the capital…

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Search and Rescue Still Under Way in Eastern Turkey; Nearly 1,000 Buildings Reported to Have Collapsed

According to catastrophe modeling firm AIR Worldwide, it is still in the early aftermath of the earthquake that struck near the city of Van in eastern Turkey, and damage assessments are only just emerging. Damage in the cities of Van and Ercis is widespread, and aftershocks, of which there have been more than 200, remain a concern. The U.S. Geological Survey has issued a moment magnitude estimate of 7.2 for the event and a relatively shallow focal depth of 20 km, which will have exacerbated the damage. “The tectonic setting…

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Colorado continues to be rocked by aftershocks from last week’s quake, insurers highlighting the importance of protection

Last week, Colorado was rocked by a magnitude-5.3 earthquake that went largely unnoticed as it was a mere two hours before the now infamous Virginia earthquake. Both events triggered mild panic and dismay due to their rarity. While Virginia and its neighboring states have been rattled by a handful of weak aftershocks, Colorado has been shaken by a total of 13 so far. Insurance companies are taking this opportunity to promote earthquake coverage in the hopes of bolstering the meager number of such policies nationwide. Colorado’s quake was the largest…

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Magnitude 5.8 Earthquake Strikes Virginia and Rattles the Eastern United States

According to catastrophe modeling firm AIR Worldwide, the largest earthquake to strike Virginia in more than a century rattled buildings in downtown Richmond and caused evacuations across the east coast today. A strong earthquake struck at 17:51 UTC (1:51 p.m. local time) near Mineral, Virginia, a town with a population of about 500. The epicenter was about 40 miles northwest of the state capital, Richmond, and about 83 miles southwest of Washington, DC. The USGS issued a preliminary magnitude estimate of 5.8, revised it upward to 5.9, and subsequently downward…

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