The earthquake that shook China May 12 will likely result in property losses between $10 and $15 billion, according to preliminary estimates from Risk Management Solutions (RMS).
Infrastructure damage and interruption to economic activity caused by the magnitude 7.9 earthquake will amplify the total loss.
RMS has been working with the Institute of Engineering Mechanics (IEM) to assess the damage from Monday's event. Though the earthquake was centered in a sparsely populated area, it was powerful enough to cause damage in the city of Chengdu, where more than 30 Fortune 500 companies and 12,000 domestic organizations are located.
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