Sunday, July 14, 2019

EPIC Missouri Earthquake Threatens To Decimate Missouri Insurance Market

Financial consideration of huge financial losses possible in a disaster as the Show-Me State always gets a little suspicious of the New Madrid fault around Summer. Here's the latest:

Report: Missouri is on the verge of an earthquake insurance market collapse

A state agency said Missouri is on the verge of an earthquake insurance market collapse in a report released Monday. The last reports of earthquake to hit Missouri were over 200 years ago, but the Missouri Department of Insurance said in their report that if another earthquake of the same magnitude -- 7 to 7.

14 comments:

Anonymous said...

Not to put too fine a point on it, but the New Madrid earthquakes included at least one magnitude 8 and many in the 7-8 range over several months.

By contrast, the 1906 San Francisco quake was between 7.7 and 8.3.

Of course there was no Richter Scale at the time of any of these quakes, so the magnitude is estimated.

Anonymous said...

The 1968 New Madrid "event" only registered 5.4 or 5.5 as I recall, but that was enough to shake things up here and even crack some plaster and a few windows.

Of course, the next one won't prove to be a problem for the Insurance Companies, they'll simply dent any claims like they did then.

Anonymous said...

^^^ sorry, "deny any claims".

Anonymous said...

Thanks for the correction before the spelling B***h woke up.

Anonymous said...

Usually earthquake damage is excluded from property insurance coverage. But some companies offer limited coverage for additional premium. Read your policy if you are worried about it.

Anonymous said...

As if anything in the bootheel would be a big loss.
It might bust up a few meth labs, but that is it.

Anonymous said...

^^^A big one in the bootheel would damage brick buildings as far away as St. Louis and Kansas City.

Native to New Madrid said...

The 1811-1812 quakes rang church bells in Philadelphia.

The 1968 quake caused buildings in St. Louis to sway like ocean waves rock a boat. I got sea sick.

Byron Funkhouser said...

After shocks were so common that the whole region was called "The Shakes".

Byron Funkhouser said...

I am sorry. I just posted I would concern myself with VA issues, but I forgot and had to stick my nose into Missouri one last time.

Byron Funkhouser said...

I'm having a tough time finding a local blog in VA who gives a shit what I have to say.

Anonymous said...

^^ So, whose gonna notice some loose bricks in these two top-ranked crime-ridden shitholes?!

Anonymous said...

Insurance is like the lottery,casinos and taxes - you pay in, but you never get paid out! Insurance is the bigger scam!!! I went 20 years without paying one red cent to health insurance, kept my self healthy and rolled the dice, and I saved a shit ton of money, and had I gotten sick and lost the dice roll, the insurance companies would have found a way not to pay! Its legal fraud!!

Anonymous said...

^^^ would have found a way not to pay had I been insured. ( I meant to say)