Hayward Earthquake Anniversary

This October marks the 140th anniversary of the 1868 Hayward earthquake, dubbed the first great San Francisco earthquake and one of the most damaging quakes in U.S. history. If the 1868 earthquake were to reoccur today, catastrophe modeler Risk Management Solutions (RMS) estimates that total economic losses to residential and commercial properties would likely exceed $165 billion. Fire, damage to infrastructure and related disruption would substantially increase the loss. Interesting fact: more than 95 percent of projected Hayward Fault earthquake residential losses and 85 percent of commercial losses will be uninsured. This is in marked contrast to Hurricane Katrina, where uninsured losses accounted for some 60 to 70 percent of total economic losses. If ever there were a time to buy earthquake insurance, it appears to be now. Just 10-12 percent of California homeowners buy the coverage today. Check out the 1868 Hayward Earthquake Alliance for more information. Check out the  I.I.I. issues update on earthquakes.  

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