Large Losses From New Zealand Quake May Not Create Hard Insurance Pricing Market

According to the latest reports from New Zealand, the death toll from Tuesday’s 6.3 magnitude earthquake has reached 113 and is expected to increase further as the grim recovery efforts proceed in the coming days. In terms of financial damage, the quake is now expected to result in insured losses of up to $12 billion. The disaster may prove to be among the top 10 most costly natural disasters once the final financial toll is known. Although the turmoil in Libya and the related spike in oil prices has moved the New Zealand story off the front pages of many newspapers, this disaster will have widespread implications in the months ahead. Read this article for more details.


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