California Quake to Cost Insurers Up to $1 Billion, Eqecat Says
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The 6.1-magnitude earthquake in California’s Napa-Sonoma County region will probably result in insured losses of $500 million to $1 billion, according to catastrophe risk modeler Eqecat.
There remains “a fair amount of uncertainty,” and the figure may rise further depending on the full extent of commercial damages, including the quake’s impact on the area’s wine industry, the modeler said today in an e-mailed statement.