New Zealand earthquake could be biggest insured disaster since 2008

New Zealand’s second earthquake in five months is a human tragedy – with more than 100 confirmed dead so far, and more than 200 missing. It could also be the worst insurance catastrophe since Hurricane Ike hit Texas in 2008. Guy Carpenter published the attached map showing the epicenter and shake zone from this week’s earthquake. The cat modeling firm AIR estimates insured losses between US$3.5 billion and US$8 billion. JP Morgan estimates $12 billion.