OTHER NEWS - July 24, 1992

Mega-Quake Wouldn’t Destroy Insurance Industry: A catastrophic urban earthquake may cause billions of dollars in damage and bankrupt some insurance companies, but it won’t halt the whole industry or severely disrupt the U.S. economy, a government study says. The Federal Emergency Management Agency study shows the economic consequences of a major urban earthquake “may be locally or regionally severe, but unlikely to be disruptive on a national level.” The report used insurance industry figures to estimate that damage costs could reach $40 billion during an urban quake as harmful as the San Francisco disaster of 1906, which measured magnitude 8.3