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At least six large earthquakes
have rocked headlines around the globe during the first months of
2010. Not including aftershocks,
the most newsworthy quakes have been:
1/12 – Port-au-Prince, Haiti (7.0)
2/27 – Offshore Maule, Chile (8.8)
3/5 – Southern Sumatra, Indonesia (6.8)
4/4 – Baja California,
Mexico
(7.2)
4/6 – Northern Sumatra, Indonesia (7.7)
4/13 – Southern
Qinghai, China
(6.9)
Many question whether we’ve
seen unusually high activity in recent months compared to years
past. According to the U.S.
Geological Survey, the planet averages 17 earthquakes a year in the 7.0
to 7.9-magnitude range and one earthquake larger than 8.0 (USGS). In 2010, we have already hit the
average for jumbo events and have experienced three events in the 7.0-7.9
category.
Is U.S. at a greater risk?
The last major earthquake in
the U.S. occurred on
January 17, 1994 in California’s San Fernando Valley, causing over $20 Billion in
property damage and the loss of at least 70 lives. The magnitude for this 1994 Northridge earthquake
was 6.7. Another event on U.S. soil nearing the magnitudes of recent
Haiti, Chile, Mexico
and Indonesia
could be even more catastrophic, especially an urban environment.
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February 27, 2010
– Santiago, Chile
(210 miles from
epicenter)
Protection is Key
Until our next event, we can
do everything possible to see that our clients are well protected. Talk to your insureds
about their concerns. Let them
know insurance coverage is available.
Do they have older properties that may not be up to current
building code standards? There may
be inspection services and engineering firms in your area that are able
assess construction pitfalls or perform important repairs and code-related
updates.
Maximum has decades of combined experience in
placing earthquake. Our risks have
ranged from high value dwellings to international airports - and
everything in between! To learn
more about protecting your clients, call us today or send your
submissions to submissions@maxib.com!
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Primary and Excess EQ
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All 50 states including CA, Pacific Northwest,
and New Madrid area
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Available with All Risk or on Stand Alone / DIC Basis
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$200MM + in Limits available
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Deductible Buy-Downs available
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Residential (High Value Dwellings) and Commercial
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