Losses hardly high following the September 30 earthquake

Despite two devastating quakes above 7 degrees of the Richter scale, more than 1 100 people were killed while hundreds are still under the rubble, with insured damages not exceeding 210 million USD, according to the figures of AIR Worldwide company, (an earthquake modeling company).

AIR Worldwide has explained that the insurance penetration rate remains poor despite the introduction of the earthquake pool, “Maipark”, in 2003. In 2005, only 2% of nationwide properties were insured against earthquake. Economic losses are estimated at approximately 420 million USD.

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