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Amatrice earthquake, insured losses estimated at 127 million USD

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Magazine Issue: 
Extreme risks insurability [3]
Magazine date: 
Oct 2017

The earthquake that rocked central Italy on August 24, 2016 caused extensive material damage, claiming the lives of nearly 300 people.

The Italian government estimated as at the end of August 2017, the amount of economic damage at 7.1 billion EUR (8.4 billion USD). Only 1.5% of the losses would be borne by insurers, that is 108 million EUR (127 million USD).

This figure highlights the low penetration rate of earthquake insurance in an area that is heavily exposed to this type of event.

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Fri, 27/10/2017 - 11:12

Source URL: https://www.atlas-mag.net/en/article/amatrice-earthquake-insured-losses-estimated-at-127-million-usd

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