PERILS reveals insured loss estimate from Italy quake

The insured property losses caused by series of earthquakes that hit Central Italy between in October are now estimated to be €31 million, according to catastrophe insurance data provider PERILS.

PERILS has issued the first estimate of losses from three major earthquakes, with magnitudes of 5.4, 5.9 and 6.5, which impacted the Umbria region and other areas damaged by a magnitude 6.0 earthquake on August 24.

The company is expected to disclose its second estimate in January next year.

PERILS said the area of damaging shaking intensities was considerably larger than that experienced during the August earthquake, mainly due to the large magnitude earthquake that occurred on October 30.