Insured losses from a magnitude 7.2 earthquake that struck eastern Turkey on Oct. 23 are estimated between $55 million and $200 million, according to two catastrophe-modeling firms.
The quake occurred nine miles north-northeast of Van, Turkey, which has a population of 372,000. Scores of buildings were demolished throughout the region, and the event has taken the lives of more than 500 people.
Catastrophe-modeler Eqecat says insured losses could range from $100 to $200 million, although total economic damage is put in low single-digit billions.
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