INSURANCE
Survey Puts Insured Quake Damage at $5.3 Billion: A.M. Best Co., the Oldwick, N.J.-based insurance ratings agency, estimated that insured damage from the Jan. 17 Northridge earthquake will reach at least $5.3 billion and could climb as high as $6.4 billion. The figure substantially exceeds the insurance industry’s official $4.5-billion estimate released last week by the American Insurance Services Group. Best based its projection on a survey reflecting data from 145 insurers representing 96% of the California property insurance market.
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