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Insured losses from Turkey quakes may top $5 billion: RMS

Posted On: Feb. 24, 2023 9:54 AM CST

Catastrophe modeler Risk Management Solutions Inc. said that insured and reinsured losses from the two deadly earthquakes that hit Turkey on Feb. 6 may exceed $5 billion and the total economic losses could surpass $25 billion, Artemis reported. The insured loss estimate includes impacts to the Turkish Catastrophe Insurance Pool and private insurers, and reflect damage to property and contents, and business interruption, across industrial, commercial, and residential lines.