New USGS-FEMA study highlights economic earthquake risk in the United States
The new estimate is twice that of previous annual estimates due to increased building value and the fact that the report incorporates the latest hazards as well as improvements to building inventories. Earthquake losses from the last few decades in the U.S. have ranged about $1.5 to 3 billion per year depending upon the timeframe. While less than the figures suggested by long-term loss estimates from this study, a single large earthquake impacting a populated urban area would quickly make up the difference in losses in one fell swoop. “It is fitting that this report was released on the same