Tag: damage from earthquake

Magnitude 7.6 Earthquake in Philippines; Triggers Tsunami Warnings

Guest Author
Earthquake in Philippines

BOSTON, Aug. 31, 2012 – According to catastrophe modeling firm AIR Worldwide, a major earthquake struck off the town of Guiuan (population 44,000) in Samar province at 12:47 UTC today. The USGS had initially issued a magnitude of 7.9 for the event but later downgraded the estimate to 7.6. Depth is issued at 34.9 kilometers. Because today’s event occurred off the coast of Philippines and take-up rates in the affected region are low, insured losses resulting from this event are expected to be minimal. According to AIR, Immediately after the…

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

Guest Author

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

Live Insurance News

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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Damages from Sendai earthquake are far spread

S.Vagus

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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