FOR IMMEDIATE RELEASE
NEW YORK, December 14, 2011 — California and the Pacific Northwest are parts of the U.S. most associated with earthquakes, but some of the largest earthquakes in the United States also occurred in the central part of the country. This week marks the 200-year anniversary of three earthquakes that occurred over a 54-day period from 1811 to 1812 along the Mississippi River near the town of New Madrid. While the insured losses were minimal because the area was sparsely populated at the time, if the same magnitude earthquakes were to hit the area today, the claims payouts could be in the billions of dollars, according to the
Insurance Information Institute (I.I.I.).
The New Madrid Seismic Zone (NMSZ), which draws its name from New Madrid, Missouri, a community in the southeastern part of that state, rattled large swaths of the central and eastern U.S. on December 16, 1811, and then again on January 23, 1812 and February 7, 1812. Each NMSZ-related quake had an estimated magnitude of 7.0 or greater.
According to a
report by Risk Management Solutions (RMS), insurers could be looking at losses of between $5 billion and $50 billion if even a moderate series of earthquakes were to occur adjacent to major urban areas in the New Madrid Region today. The analysis also suggests that there is a 28 to 46 percent likelihood of a 6.0 magnitude earthquake, or greater, hitting the New Madrid area within the next 50 years. St. Louis, Missouri and Memphis, Tennessee, are the most-populous cities closest to the NMSZ.
Reporters covering the New Madrid Bicentennial may contact the I.I.I. for interviews. They can also access the special
resource page on I.I.I.’s website, which includes:
THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.
Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500;
www.iii.org