In the last two weeks, Puerto Rico has experienced earthquakes that have caused significant damage to homes and buildings, especially in the southwest area of the island closest to the earthquake epicenters. Many of these properties have collapsed and others are under dangerous conditions. The government has asked the people to abandon homes that are not safe, and the Governor declared a State of Emergency due to the seismic activity continues in Puerto Rico.
Continue Reading

Puerto Rico Hurricane Maria claims are not close to being finished. Now, we have major earthquakes impacting Puerto Rico. The worst example of poor treatment to policyholders following a hurricane catastrophe is found in Puerto Rico. It is sad and now numerous earthquakes are causing more damage and loss.
Continue Reading

This weekend, I was binging on the Netflix show “The Defenders.” In one of the first episodes, an earthquake hits New York City and a character comments: “Not a lot of people have earthquake insurance up here.” This got me thinking about endorsements to policies, and how likely is it that an earthquake large enough to cause property damage will hit the tri-state area?
Continue Reading

While the rest of the country watches for hurricanes, Californians are wondering when the next large earthquake will occur. Unfortunately, there is very little time to prepare for an earthquake as there really are not sufficient warning signs that can allow homeowners and businesses to pack up or board up their breakable belongings. Although most California homeowners do not have earthquake insurance, for those who do, they will find that a few significant changes in the California Earthquake Authority (CEA) policy may require closer scrutiny of their policies to suit their needs. When purchasing an insurance policy, home and business owners should be vigilant to ask their broker or agent what changes are being made to their policy and what options are available to add coverage.


Continue Reading

In 2014, Oklahoma experienced 567 earthquakes measuring a magnitude of 3.0 or greater and 209 in 2013. This is a rapid increase in quakes for Oklahoma and while some homeowners have responded by making sure they had coverage in their home and business policies, more building owners need to make sure this coverage is purchased since the claims for earthquake damages are now more prevalent in the Sooner state. A typical Oklahoma homeowner will likely pay $100 to $150 per year for earthquake coverage. Earthquake policies usually cover structure repairs, damage to personal property, and debris removal.1


Continue Reading

With a major earthquake recently hitting California, it seemed an appropriate time to revisit earthquake insurance coverage issues. A report indicates that earthquake risks are rising in the U.S., but fewer homeowners nationally say they have earthquake insurance. This creates a potentially huge gap in coverage, according to the Insurance Information Institute.1


Continue Reading

A state of emergency was declared in Southern Napa County on Sunday after the strongest earthquake to strike Northern California in 25 years hit in the early hours of the morning. Registering a 6.0 magnitude, it is the largest trembler in the area since the 6.9-magnitude Loma Prieta earthquake caused $6 billion of property damage in 1989.


Continue Reading

Northern Californians in Napa Valley were hit early Sunday morning with a 6.0 earthquake that caused substantial damage. The earthquake is one of the largest for the region in more than 25 years and was felt well into the Bay Area, with reports that the earthquake was felt as far as San Jose – waking residents in the San Jose region. The Governor declared a state of emergency and Napa residents and businesses are busy assessing the damage. Early photos and footage of the area shows significant structural damages to many businesses in Napa’s downtown region. By early evening, 33 structures had been red tagged, more have been yellow-tagged (which means it safe only to retrieve possessions) and it is unclear if that number will grow as government entities continue to survey the damaged areas.


Continue Reading

A new federal earthquake map shows an increased risk for about half of the United States.

Although I’ve previously posted on the increased earthquake risk in Oklahoma, this newly released data made a reminder seem reasonable. On July 17, 2014, the U.S. Geologic Survey updated its national seismic hazard maps for the first time since 2008, taking into account research from the devastating 2011 earthquake and tsunami off the Japanese coast and the 2011 Virginia temblor.1


Continue Reading