BestWeek: How a Few Moments Could Cost Insurers $100 Billion or More.OLDWICK, N.J. -- With the potential for an Oakland-St. Louis World Series this year, Major League Baseball "MLB" and "Major Leagues" redirect here. For other uses, see MLB (disambiguation) and Major Leagues (disambiguation). Major League Baseball (MLB) is the highest level of play in North American professional baseball. might have wanted to take out some earthquake insurance: Either city has the potential to deliver a replayeI|and then someeI|of the nationally televised 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). that postponed Game 3 of the 1989 fall classic between the Oakland Athletics and the San Francisco Giants The San Francisco Giants are a Major League Baseball team based in San Francisco, California that currently play in the National League West Division. New York Giants history Early days and the John McGraw era , according to a special report from A.M. Best Co. in this weekeIUs BestWeek. The interruption of a championship series paled next to the loss of life and property in the Loma Prieta earthquake, which killed more than 60 people in the San Francisco Bay area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . But that tembloreIUs magnitude doesneIUt crack the top 20 among recorded earthquakes in the 48 contiguous U.S. states. Its inflation-adjusted $1.7 billion in insured losses are a long way from the potential $100 billion or more in claims if a severe earthquake were to strike a major metropolitan area, based on the special report. The San Francisco Bay area, which includes Oakland, has a well established potential for destructive ground shaking. Less well known, at least to the general public, is the time bomb not far from St. Louis: the New Madrid fault, scene of three earthquakes in 1811-12 that are estimated to have equaled or exceeded the magnitude of the 1906 San Francisco earthquake San Francisco earthquake disaster claiming many lives and most of city (1906). [Am. Hist.: Jameson, 443–444] See : Disaster . It is likely that if an earthquake of 7.6 magnitude occurred in San Francisco, the insured loss would top $100 billion. While northern California is assumed to be a candidate for such a temblor, other major metropolitan areas are at some risk for a similar level of earthquake devastation. Among those areas are Chicago, Philadelphia, Tokyo and Vancouver, Canada. Also featured is BesteIUs Insurance Composite Index, which finished the week of Oct. 12, 2006, at 1,176.64, up 11.15% from a year ago. The composite index reflects the performance of 131 insurance stocks. The weekeIUs top performers were SCPIE SCPIE Southern California Physicians Insurance Exchange Holdings Inc.; Kansas City Life Insurance Co.; National Atlantic Holdings Corp.; Mercer Insurance Group Inc.; and Gainsco Inc. The weekeIUs bottom performers were Coventry Health Care Coventry Health Care, Inc. (Coventry) (NYSE: CVH) is a managed health care company in the United States. On February 8th of 2007 Coventry agreed to acquire Concentra's Workers Compensation Managed Care Services Businesses. External links
FBL Fly by Light FBL FIATA Bill of Lading FBL Functional Baseline FBL Foundation for a Better Life FBL Federal Barge Lines, Inc. Financial Group Inc. BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe to BestWeek, please call A.M. BesteIUs customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com. A.M. Best Co., established in 1899, is the worldeIUs oldest and most authoritative insurance rating and information source. For more information, visit A.M. BesteIUs Web site at www.ambest.com. |
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