Chile earthquake insured losses likely to top $2bn
AIR Worldwide estimates that insured losses from the Chile earthquake are likely to exceed $2bn and that total economic losses may exceed $15bn.
The death toll from the earthquake currently exceeds 700, though this number is expected to rise.
“The total economic loss will likely be severe from damage not only to buildings, but from the widespread impact on infrastructure, including roads, bridges, airports, and utilities and telecommunications networks,” said Dr Jayanta Guin, senior vice president of research and modeling at AIR Worldwide.
According to AIR, the area from Concepción to Santiago impacted by the quake contains residential
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