If a major quake hits the Beijing area of China, it could cause a $100 billion loss that vicinity, a catastrophe modeling firm said today.
Over half the loss would occur in Beijing alone, said Newark, Calif.-based Risk Management Solutions after a study.
A share of the $100 billion would be borne by the insurance industry, as well as mortgage lenders who will be impacted by damage to uninsured properties, RMS said.
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