LIVE Video: Day 3 of testimony in Trump impeachment hearings

Missouri report warns of earthquake insurance collapse

JEFFERSON CITY, Mo. (AP) – A new report says Missouri faces a possible earthquake insurance marketplace collapse and massive economic losses if a powerful quake hits the New Madrid fault line anytime soon.

Despite the risk, the report says earthquake insurance coverage dropped to fewer than 14% of homes in the New Madrid area in 2018, compared to 60% in 2000.

A series of powerful earthquakes occurred along the fault line beginning in 1811, including one with an estimated magnitude of 7.7 on a 12-point intensity scale.

Missouri’s insurance department report points to a recent risk assessment that predicted total economic losses of $300 billion if a similarly strong earthquake hits again. The U.S. Geological Survey predicts there’s a 7-10% chance that an earthquake of that intensity could happen again in the next 50 years.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.