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California Quake to Cost Insurers Up to $1 Billion, Eqecat Says

Rubble from a damaged building lies on a car in Napa, California. Photographer: David Paul Morris/Bloomberg
Rubble from a damaged building lies on a car in Napa, California. Photographer: David Paul Morris/Bloomberg

Aug. 24 (Bloomberg) -- The 6.1-magnitude earthquake in California’s Napa-Sonoma County region will probably result in insured losses of $500 million to $1 billion, according to catastrophe risk modeler Eqecat.

There remains “a fair amount of uncertainty,” and the figure may rise further depending on the full extent of commercial damages, including the quake’s impact on the area’s wine industry, the modeler said today in an e-mailed statement.

To contact the reporter on this story: David Scheer in Seattle at dscheer@bloomberg.net

To contact the editors responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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