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EQECAT: New Zealand Quake on Monday Causes Up to $5 Billion in Insured Damages

Source: EQECAT

Posted on 14 Jun 2011

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Another powerful earthquake occurred near Christchurch, New Zealand on Monday, June 13.

The reported epicenter  is just six miles southeast of Christchurch’s central business district (CBD), where buildings previously damaged by large earthquakes over the past nine months suffered additional damage from today’s earthquake.

This latest event is expected to cause an additional $3 to $5 Billion in insured losses to the region. Monday’s event was preceded by an earthquake immediately to the west just 1 hour and 20 minutes before the main shock.