The Institutes

M6.3 Quake Strikes Iran Coast; Minimal Insured Losses Expected: AIR Analysis

 Wednesday, April 10, 2013

 Insurance Journal

Catastrophe modeling firm AIR Worldwide has issued a bulletin on the earthquake that struck the southwestern coast of Iran this morning, April 10, 2013. AIR said the quake was magnitude 6.3 and struck 55 miles [88 kms] southeast of Bandar Bushehr. Initial news reports indicate that at least 37 people have died and over 850 suffered injuries from the quake. AIR noted, however, that “insurance losses are expected to be minimal.” According to the United States Geological Survey (USGS), the earthquake occurred at 3:22 p.m. local time (11:52:50 UTC) and struck at a depth of 10 kilometers (6 miles). The main shock was followed by six aftershocks, according to the Iran Seismological Centre, the strongest of which was M5.3.

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