14 April 2014 Insurance

Chile ranked 4th for insured quake losses

Chile is now in the world’s top five countries for the highest insured losses from earthquakes, according to a report by Guy Carpenter.

While, losses from the recent 8.2 magnitude earthquake are still being calculated, losses stemming from the 8.8 magnitude seismic quake in 2010 are enough to propel it into fourth spot in Guy Carpenter’s GC Capital Ideas table. Insured losses from the quake were $8.2 billion.

Japan currently holds the top spot with 2011’s 9.0 magnitude earthquake and tsunami causing $35 billion of insured losses. The US comes second with a 6.8 magnitude earthquake in 1994 causing $21.2 billion insured losses. New Zealand holds third and fifth place with the 6.1 magnitude earthquake in 2011 causing $14 billion in insured losses and the 7.0 magnitude earthquake in 2010 causing $5 billion in insured losses.

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