M6.2 Earthquake Strikes New Zealand’s North Island: AIR

oklahoma earthquake insurance industry

BOSTON, Jan. 20, 2014 – According to catastrophe modeling firm AIR Worldwide, at 9:52 p.m. Eastern Time, on January 19 (3:52 p.m., local time, January 20), a magnitude 6.2 earthquake struck New Zealand’s North Island. The epicenter was located 111 km (69 miles) northeast of Wellington, New Zealand’s capital city and second most populous area, and 34 km (21 miles) south-southeast of Palmerston and 37 km (23 miles) north-northeast of Masterson. Strong shaking was felt in the vicinity of both Palmerston and Masterson. The quake struck at a depth of…

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Damages from Sendai earthquake are far spread

Japan is in the midst of the most catastrophic disaster in recent history. On Friday, the nation suffered a magnitude 8.9 earthquake that was the most powerful geological event in the region in millennia. The quake triggered powerful tsunamis that invaded the shores of Japan and caused grievous damages to the Northern provinces. While the earthquake threatened to tear apart the nation’s foundations, the unrelenting tsunami washed away everything it its path. Insurance companies are struggling to fathom the cost of the disaster. Initial estimates claim that more than $35…

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