Archive for September, 2010

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

Monday, September 27th, 2010

Author: Dr. Lloyd Blanchard, IEM Consultant

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 and uninsured damages) of $5 to $6 billion US (NZ$6.8 billion to NZ$8.2 billion). (more…)