A new Missouri earthquake insurance report was recently published by the states Department of Insurance (D.O.I.), highlighting some troubling details about the market there.
The "Earthquake Insurance Market Report" showed a lack of preparedness in the event of a large quake.
The Missouri earthquake insurance report revealed some troubling facts about the readiness of the states market to recover if a high magnitude quake should occur.
This is particularly worrying as the southeast of the state sits on top of the New Madrid fault line area. The D.O.I. pointed to a number of strong tremors during the winter of 1811 to 1812. Geological experts now estimate that the main quakes at that time ranged from a magnitude of 7.0 to 7.5.
The report stated that if a similar event should occur today, Missouri residents and business owners would face overwhelming losses.
