Italy earthquake insurance losses may be minor

italy earthquake insurance
State Farm sees a drop in auto insu...
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Damage from the quake was extensive and the aftershocks continued over a span of several days. The total damage from the devastating Italy earthquake has yet to be tallied as it is too early to know. That said, the insurance industry has predicted that the insured losses will not be significant. The property values in the affected towns and the lack of coverage has meant limited losses for insurance companies. Despite the fact that there won’t be tremendous insurance losses, the disaster left behind for the people is horrifying. In…

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Strong Earthquake Rocks Northern Italy: AIR

Earthquake Italy

According to catastrophe modeling firm AIR Worldwide, the second significant seismic event to hit northern Italy in just over a week occurred at 12:55 p.m. local time on Tuesday. The US Geological Survey issued a moment magnitude of 5.8 for the event. The Institute of Geophysics and Volcanology (INGV) issued a local magnitude of 5.8. Focal depth is estimated at between 9.6 km (USGS) and 10 km (INGV), making this a shallow event. It is still in the early aftermath of this event. Based on reports so far, however, AIR…

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Magnitude 6.0 Earthquake Strikes Italy’s Emilia Romagna Region: AIR

Italy Earthquake

According to catastrophe modeling firm AIR Worldwide, in the early morning hours (2:03 UTC) of Sunday, May 20, an earthquake struck the Emilia-Romagna region of northern Italy. The US Geological Survey issued a moment magnitude estimate of 6.0 for the event. Italy’s National Institute of Geophysics and Volcanology (INGV) reported a local magnitude of 5.9. Focal depth is estimated at between 6.3 km (by INGV) and 10 km (USGS), making this a shallow event. Indeed, the shallowness of today’s earthquake will likely exacerbate the damage. The largest aftershock reported so…

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