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HONOLULU--Damage from Sunday's Hawaiian earthquake remains unknown, but could be widespread, according to observers.
The magnitude-6.6 earthquake struck off the shore of the island of Hawaii, but its impact was felt throughout much of the state, with power outages being reported even in Honolulu.
"Given the estimates of intensity, the potential for damage is significant," according to a report issued by Chicago-based risk modeler Carvill ReAdvisory Group.
"Damage appears to be minor but widespread," said a spokeswoman for the Insurance Information Institute in New York. "In the aggregate, it could come close to the $25 million in insured losses that would make it a catastrophe" under the definition of catastrophe used by the Insurance Services Office Inc.'s Property Claim Services unit.
PCS defines a catastrophe as an event that causes at least $25 million in insured property damage and affects a significant number of policyholders and insurers.