20 Years after Loma Prieta, How Prepared Are We?On the Eve On the Eve (Накануне in Russian) is the third novel by famous Russian writer Ivan Turgenev, best known for his short stories and the novel Fathers and Sons. of the Great California ShakeOut, 88 Percent of Californians Opt to Ride Out the Next Quake Without Insurance LOS ANGELES -- Saturday marks 20 years since the catastrophic 6.9 magnitude Loma Prieta earthquake The Loma Prieta earthquake was a major earthquake that struck the San Francisco Bay Area of California on October 17, 1989 at 5:04 p.m. The earthquake lasted approximately 15 seconds and measured 6.9 on the moment magnitude scale (surface-wave magnitude 7.1). . If a similar earthquake happened today, the financial impact could further devastate dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. an already weakened California economy. According to a study by Risk Management Solutions, a 6.7 magnitude earthquake on the Hayward fault could result in $112-to-$122 billion in economic losses, of which only $11-to-$13 billion would be insured. Additionally, a magnitude 7.0 temblor ripping the length of the Hayward fault would result in $210-to-$235 billion in economic losses, only one-seventh of which could be covered by insurance. "Tomorrow, millions across the state will 'drop, cover and hold-on' during the Great California ShakeOut," said Candysse Miller, executive director of the Insurance Information Network of California. "But we can't forget how to 'prepare, survive and recover' financially from an earthquake as well." According to the California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state , statewide less than 12.6 percent of residents and less than 9.7 percent of businesses have earthquake insurance. The 1989 Loma Prieta quake caused $11.7 billion in insured losses, killed 63 people and injured 3,757 others. IINC IINC Insurance Information Network of California is non-profit and non-lobbying trade association dedicated to helping the public understand insurance and manage risk. For more information, please visit the IINC Web site. You can also follow IINC on Twitter A Web site and service that lets users send short text messages from their cellphones to a group of friends. Launched in 2006, Twitter (www.twitter.com) was designed for people to broadcast their current activities and thoughts. at http://www.twitter.com/iinc and on Facebook at http://companies.to/iinc. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion