Editor’s Note: Since this article was published, EQECAT issued updated loss projections on May 30, 2012.

Catastrophe modeler EQECAT says the earthquake in Northern Italy on May 20 will cause about $127 million in insured losses.

According to the company’s preliminary report, losses from the magnitude 6.0 quake in the Emilia-Romagna region will primarily come from older, unreinforced brick structures in local, mostly rural towns of Finale Emilia, San Felice Sul Panaro, and Camposanto.

The estimate is derived from a rough comparison of this earthquake to a magnitude 6.3 quake in L’Aquila in 2009 that caused more than $250 million in insured losses, says EQECAT. That quake was in a more populated area in central Italy.

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