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posted on November 3, 2008

Study: Estimated Economic Losses of More Than $200 Billion from a Major Earthquake on California's Hayward Fault

Only $30 Billion of Total Losses Likely to be Insured

Risk Management Solutions, a catastrophe risk expert, has announced the results of a study analyzing the impact of a major earthquake on the Hayward Fault. The study marks the anniversary of the 1868 Hayward Earthquake - which ruptured the southern section of the fault 140 years ago - and was conducted in collaboration with research seismologists led by the U.S. Geological Survey. Results revealed that a magnitude 6.8 earthquake rupturing the southern Hayward Fault today would result in economic losses between $112 billion and $122 billion - based on the San Francisco Bay area's 2008 population and property exposures - of which $11billion to $13 billion would be insured. The study also revealed that a magnitude 7.0 earthquake rupturing the entire length of the Hayward Fault would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured.

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