$1B Temblor Should Prompt Cos. To Revisit Quake Insurance
By Erin Coe (August 25, 2014, 10:48 PM EDT) -- The 6.0-magnitude earthquake that shook Napa, California, early Sunday morning causing up to an estimated $1 billion in losses should serve as a wake-up call for companies to take a look at whether they need to buy a commercial earthquake insurance policy, despite concerns about the high cost and limitations on coverage, insurance lawyers say.
The quake in Northern California's scenic wine country left about 170 people injured and tens of thousands of residents without power, according to reports. It was the largest earthquake to strike the Bay Area since the 6.9-magnitude Loma Prieta earthquake in 1989, and the economic losses...
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