NU Online News Service, May 13, 12:18 p.m. EDT
Claims from the earthquake that shocked the Murcia region of Spain on Wednesday will cost the state owned insurer around $100 million, risk-modeling firm EQECAT says.
According to the three major catastrophe modeling firms—EQECAT, AIR Worldwide and Risk Management Solutions—losses from the quake will be covered by Consorcio de Compensacion de Seguros, a state-guarantee insurer. Coverage for such events is mandatory in Spain, the modelers say.
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