The next big earthquake to hit the Bay Area would cause more than $165 billion in property damage but only $15.8 billion in insured loss, a catastrophe modeling expert said today.
Mary Lou Zoback, a vice president with Risk Management Solutions, provided those numbers at a news conference the Newark, Calif.-based firm held.
While it has been 140 years since a major earthquake struck the Hayward Fault that runs through the San Francisco Bay area, there is historical likelihood of another major event soon, according to a government expert.
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