Magnitude 8.0 quake in California a possibility: CoreLogic

Reconstruction cost could amount to hundreds of billions of dollars

Insurance News

By Allie Sanchez

New data from analytics firm CoreLogic has revealed that a massively destructive earthquake could originate from the San Andreas fault in California, and cause extensive damage in the northern and southern parts of the state, according to a report.

The data is based on earthquake risk science from the Uniform California Earthquake Rupture Forecast version 3 (UCERF 3).

According to the earthquake risk model, a magnitude 8.3 shaker could rock the San Andreas fault – an earthquake that it was previously thought could occur only along the northern part of the fault line.

This eventuality could result in a 126% increase in property damage, forecast to hit two million to four million homes; and result in reconstruction cost value (RCV) of $289 billion.

A less intense quake, but damaging nevertheless, could register 8.0 on the Richter scale and still cause extensive damage statewide, the report concluded. 


Related stories:
New Zealand earthquake insured losses could be $3.5 billion
Earthquake rocks biggest oil hub in the country

Keep up with the latest news and events

Join our mailing list, it’s free!