New Economy
Thursday, 7/2, 10:44 AM
Venezuela's Quake Losses Seen Topping $10 Billion, Most of It Uninsured
- Risk-modeling firm Verisk estimates economic losses from the twin earthquakes that struck Venezuela on June 24 will exceed $10 billion — but with almost no earthquake insurance in the country, the bill will fall overwhelmingly on households and the state, not insurers.
- It's a stark example of the world's 'protection gap.'