NU Online News Service, Sept. 8, 3:12 p.m. EDT
Modeler Risk Management Solutions (RMS) said most of the losses from the earthquake in New Zealand will be residential, with a majority being paid out by the Earthquake Commission.
Modelers estimate insured losses of between $1 billion and $4.5 billion from Saturday's magnitude 7.0 earthquake in Christchurch, New Zealand.
Fitch Ratings said Insurance Australia Group Ltd. (IAG) and Suncorp-Metway Ltd. have 60 percent of the property market in New Zealand.
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