A catastrophe risk modeling firm estimated today that the insured losses from yesterday's 7.7 magnitude northern Chile earthquake should not exceed $80 million.
Boston-based AIR Worldwide Corp. said the quake had hit a relatively sparsely population region.
The shock wave "was felt as far away as Santiago, some 1,245 km [772 miles] to the south," said Guillermo Franco, senior research engineer at AIR Worldwide. "A tsunami warning was issued for Chile and Peru, but was lifted within an hour."
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