Chile: Insured Losses Less Than $100 Million
The insured losses from the magnitude-7.1 Chile earthquake on March 25th are expected to be less than $100 million, according to catastrophe modelling firm EQECAT.
The earthquake occurred 200km south of Santiago on March 25, at a moderate depth of 35km. This earthquake was widely felt throughout central Chile, including regions affected by the 2010 M8.8 earthquake. No major damage or fatalities are currently being reported, despite initial reports of potentially considerable damage.
TIME reports that, “A magnitude-7.1 earthquake struck central Chile Sunday night, the strongest and longest that many people said they had felt since a huge quake devastated the area two years ago.
“Some people were injured by falling ceiling material, but there were no reports of major damage or deaths due to quake-related accidents.
“The quake struck at 7:30 p.m. about 16 miles (27 kilometers) north-northwest of Talca, a city of more than 200,000 people where residents said the shaking lasted about a minute.
“Buildings swayed in Chile’s capital 136 miles (219 kilometers) to the north, and people living along a 480-mile (770-kilometer) stretch of Chile’s central coast were briefly warned to head for higher ground.”
