According to a new study, a potential earthquake on the Hayward Fault could cause almost a quarter of a trillion dollars in damage, of which only a fraction would be insured.
Risk Management Solutions (RMS) has announced the results of a study analyzing the impact of a major earthquake on the Hayward Fault.
The study marks the anniversary of the 1868 Hayward Earthquake - which ruptured the southern section of the fault 140 years ago this month - and was conducted in collaboration with research seismologists led by the U.S. Geological Survey. Results revealed that a magnitude 6.8 earthquake rupturing the Southern Hayward Fault today - based on San Francisco Bay Area's 2008 population and property exposures - would result in economic losses of between $112-$122 billion, of which $11-13 billion would be insured. The study also revealed that a magnitude 7.0 earthquake rupturing the entire length of the Hayward Fault would result in economic losses between $210-$235 billion, with only up to $30 billion likely to be insured.
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