Insured losses from April 6's earthquake in Italy are likely torange between $265 million and $530 million, Boston-based AIRWorldwide projects. The 6.3 magnitude earthquake that struck theAbruzzo region includes losses to residential, commercial andindustrial buildings and contents.
|Guillermo Franco, AIR senior engineer, said insured losses willbe limited to the low penetration of earthquake insurance in theregion. He estimates that the percentage of homes insured in Italyare 5 percent, with commercial coverage about 35 percent.
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