A current version of the 1906 San Francisco earthquake and fire would result in at least $260 billion of damages of which up to $80 billion would be covered by property and workers' compensation insurers, a modeling firm estimated.
Newark, Calif.-based Risk Management Solutions based the figures on a study of the current population and exposures of the San Francisco Bay area that updates its 1995 projection for a San Francisco earthquake.
In contrast to the 1906 event, where 80 percent of the losses were caused by fire, less than 15 percent of the estimated total insured property losses are expected to be fire-related in 2006.
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