Philippines: Little To No Insured Losses Expected
Catastrophe modelling firm EQECAT said insured losses from yesterday’s [Aug 31] magnitude 7.6 earthquake in the Philippines are “expected to be little to none because strong shaking was limited to remote and rural islands in the eastern part of the country.”
The earthquake struck off the Philippines’ east coast late Friday, killing one person in a house collapse, knocking out power in several towns and spurring panic about a possible tsunami. The Pacific Tsunami Warning Center has lifted all tsunami alerts it issued for the Philippines and neighboring countries from Indonesia to Japan.
