Verisk Expects Venezuela Earthquake Losses to Top $10b
Verisk said insured losses are harder to gauge because Venezuela’s small insurance market and high inflation obscure the final impact.
- Catastrophe modelling firm Verisk estimates economic losses from the June 24, 2026 earthquake in Venezuela will exceed $10 billion, marking the costliest natural disaster to strike the country in recent decades.
- On June 24, a magnitude 7.2 foreshock struck near Yumare-Morón in Yaracuy, followed 39 seconds later by a 7.5 mainshock—the strongest earthquake to impact Venezuela since 1900.
- Severe damage hit the Caracas metropolitan region and La Guaira, where an estimated 1,400 buildings were destroyed, while the San Sebastián fault system produced more than 430 recorded aftershocks.
- Verisk noted "greater uncertainty than is typical" in estimating insured losses, citing Venezuela's macroeconomic conditions, elevated inflation, and low insurance penetration as complicating factors.
- Venezuela's insurance sector remains small and highly concentrated, facing regulatory complexity and currency depreciation that complicate asset valuation following major catastrophes.
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The Toronto Star
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Verisk Estimates Losses From Venezuela Earthquakes to Be Over $10bn
The latest from Verisk for you; The Catastrophe and Risk Solutions group at Verisk (Nasdaq: VRSK), a leading strategic data analytics and technology partner to the global insurance industry, estimates economic losses from the June [...] The post Verisk Estimates Losses From Venezuela Earthquakes to Be Over $10bn appeared first on .
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