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2010 Quakes Cause $10B In Insured Losses; U.S., Japan Preparation Lacking

Earthquakes in 2010 caused insured losses exceeding $10 billion, and the industry as well as governments around the world must take action to prepare for future quakes, according to a new report from catastrophe modeler EQECAT.

By Phil Gusman | Updated on January 05, 2011

NU Online News Service, Jan. 6, 3:51 p.m. EST

Earthquakes in 2010 caused insured losses exceeding $10 billion, and the industry as well as governments around the world must take action to prepare for future quakes, according to a new report from catastrophe modeler EQECAT.

Economic losses from the 2010 quakes are estimated at $40 billion, EQECAT said.

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