Economic Losses From New Zealand’s Recent Earthquake Could Reach $5–6 Billion US

In the early morning of September 4, 2010, a 7.1 magnitude earthquake struck the South Island of New Zealand. Widespread damage resulted, primarily centered on Christchurch, the largest city on the South Island with a population of approximately 372,000. This earthquake is the worst in the country’s history. IEM estimates total damage costs (insured losses […]