(Bloomberg) -- The earthquake that struck northernCalifornia yesterday will lead to economic losses of as much as $4billion, fueled by damaged wineries and shuttered businesses thatrely on tourists.
Insurers will probably cover about $2.1 billion, according to anestimate from Kinetic Analysis Corp., which projected total lossesof about twice that sum. Costs borne by the industry may be limitedbecause many homeowners don’t have earthquake coverage,according to the Insurance Information Institute.
“The main source of claims could well be commercial claims,those coming from wineries and vineyards and other commercialinterests,” Robert Hartwig, the institute’s president, said in aninterview today. “It will take a while for the business owners tosort this out.”
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