In 2018, a large 7.9 magnitude earthquake hit Kodiak Island, Alaska on January 23. Although according to the United States National Tsunami Warning Center, a small tsunami of less than eight inches was observed in a handful of Alaska cities, no significant damage was reported. On May 4, a 6.9 magnitude quake struck the Big Island of Hawaii, caused by the eruption of Mount Kilauea. No significant damage was reported. As the eruption continued, a 5.5 magnitude earthquake was recorded on June 3. The eruption caused about 500 quakes in one day.
In 2017 the biggest earthquake in the United States was a magnitude 6.2 quake that occurred on May 1 in Skagway, Alaska. No significant damage was reported.
The costliest U.S. earthquake, the 1994 Northridge quake, caused $15.3 billion in insured damages when it occurred ($25.6 billion in 2017 dollars). It ranks as the seventh costliest U.S. disaster, based on insured property losses (in 2017 dollars). Eight of the costliest U.S. quakes, based on inflation-adjusted insured losses, were in California, according to Munich Re.
The previous chart ranks historic earthquakes based on their total insured property losses, adjusted for inflation. The chart below measures the estimated impact of historical quakes based on current exposures. The analysis of exposures as of end-2016 is based on AIR Worldwide's U.S. earthquake model. It makes use of the firm's property exposure database and takes into account the current number and value of exposed properties.