Reprise of 1811-12 earthquakes in New Madrid, Missouri would cause up to $50 billion in insured losses today: RMS

Reprise of 1811-12 earthquakes in New Madrid, Missouri would cause up to $50 Billion in insured losses today: RMS

Marking the 200-year anniversary of a series of Magnitude 7 or greater earthquakes that occurred over a 54-day period along the Mississippi River in 1811-12, catastrophe modeler Risk Management Solutions (RMS) issued a report saying a similar event might cost insurers up to $50 billion in insured damages today.
“The 200th anniversary of the 1811-1812 earthquake sequence [near New Madrid, Missouri] is a stark reminder of the earthquake risk in the region, the potential losses that could occur, and the need to adequately prepare for a possible future event,” noted Dr. Patricia Grossi, director of research at RMS and co-author of the study.
“A high level of seismicity persists in the New Madrid Seismic Zone (NMSZ) region today, with this activity considered by some to be part of the continuing aftershock series [from the 1811-12 earthquakes],” RMS noted in a statement announcing the release of its report. “Seismicity rate estimates suggest a 28-46% likelihood of a M6.0 or greater earthquake in the broad region around New Madrid in the next 50 years.”
To view the report, which specifically analyzes how uncertainties in earthquake hazard variables impact estimated financial losses, please visit: https://www.rms.com/Publications/New_Madrid_Seismic_Hazard.pdf.