Costly Quake

I just received an article from a property casualty insurance watch group that said the New Zealand earthquake could turn out to be in the top 10 of costliest world events.

Some estimates of insured losses due to the second earthquake in Christchurch, New Zealand, in six months put the disaster potentially within the top ten most costly world insurance losses since 1970.

A note to clients from a JP Morgan Chase & Co. analyst estimated insured losses from the Feb. 21 (Feb. 22 local time) earthquake may be as much as $12 billion.

See it here; http://www.propertycasualty360.com/2011/02/23/new-zealand-quake-could-be-among-top-10-costliest

If you have been under your blanket for the past few weeks...it's time to come out and put on your flying shoes and start listening intently for the trumpet.