Quake and Tsunami in Japan

The pictures are horrific. You cannot watch without shaking your head at the humanity.

Standard Publishing put out an email blurb today on disasters. It included the following:

“…While economic losses from the disaster will be huge, the particular nature of these events will make most of that loss uninsured. So far, estimates of insured loss range from $12 billion to $35 billion. The Japan Earthquake Reinsurance Pool (JERP) is expected to cover from $2 billion to $4 billion USD of the direct shake losses…”

I have fielded calls from several media outlets on earthquake insurance in the US.

Most of us in the US do not have earthquake insurance. Your home insurance probably excludes it. Your business insurance does too.

Earthquake is the only catastrophic cause of property loss for which most Americans are not insured. Get quotes and buy the coverage.

Also, send a check to the Red Cross while you are at your desk.