A catastrophe modeling firm warned insurers yesterday that the likelihood has increased of an earthquake in China that wreaks damage equivalent to the country's huge and deadly 1976 Tangshan Earthquake.
The alert was sounded by Risk Management Solutions, Newark, Calif., which has published a 30th anniversary report stressing the lessons learned from the July 27, 1976 quake, which reduced huge portions of the city to rubble and killed an estimated 655,000 people.
RMS said the rapid growth of Asian cities over the past three decades has led to a greater proportion now living in cities like Tangshan.
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