Nevada Earthquake Not Significant Insurance Loss

A strong earthquake struck a remote area in northeastern Nevada early Thursday, but insurance losses in the sparsely populated region are not expected to be significant according to the Insurances Services Office Inc.

Both Risk Management Solutions and AIR Worldwide experts said the quake near Wells, Nevada, was of a magnitude 6 on the Richter scale. AIR Worldwide officials said the shock was felt as far away as Twin Falls, Idaho, nearly 100 miles from the earthquake's epicenter.

The quake caused major damage in Wells, 11 miles from the epicenter, causing major structural damage to some older buildings, igniting small fires and bursting windows, AIR Worldwide officials said.

RMS officials indicated that preliminary reports indicate that almost all of the 700 residential structures in the town sustained some level of damage and most of the towns' businesses were closed on Thursday either due to damage or interruption to gas and water services.

One hundred fifty miles to the east, in the Gateway Mall in Salt Lake City, the Salt Lake Tribune's seven-story office building shook east to west and its light fixtures swung by about a foot, AIR Worldwide officials said.

Gary Kerney, assistant vice president for Jersey City, N.J.-based ISO Property Claim Services, said the organization continues to review information regarding the earthquake.

“At this time the indications are that there is little earthquake insurance covering the damaged properties,” Mr. Kerney said. “PCS has not assigned a catastrophe serial number, and it does not appear at this point that a number will be required.”