The
THE VOICE OF TEXAS INSURANCE RE C O R D
INSURANCE
Published Since 1934 • Dallas, Texas January 28, 2010 • Vol. 76 No. 2
Severity of haiti earthquake a Reminder to the
Vulnerability of U.S. to Temblor Disasters
Even in California, Few Have Earthquake Coverage for U.S. Property Losses
NEW YORK—The potential cost of U.S. earthquakes has
been growing because of increasing urban development in
seismically active areas and the vulnerability of older buildings, which may not have been built or upgraded to current
building codes.
Compounding this problem is the fact that the vast majority of homeowners living in seismic zones do not purchase
earthquake insurance, according to the Insurance Information Institute (I.I.I.), www.iii.org. In fact, only 12 percent
of California homeowners have earthquake coverage.
Earthquakes and Insurance
Earthquakes are not covered under standard U.S. homeowners or business insurance policies. Coverage is usually available
for earthquake damage in the form of a supplemental policy to
homeowners or business insurance. Standard homeowners and
business insurance policies may, however, cover losses from a
fire following an earthquake, which would include additional
living expenses and business interruption coverage. Cars and
other vehicles are covered for earthquake damage under the optional comprehensive portion of an auto insurance policy.
continued on page 8
Texas earthquake history
DALLAS—Preliminary reports from the U.S. Geological Survey classify as magnitude 2. 8 an earthquake that hit northern Texas on Dec. 5, 2009.
In This Issue
TDI December enforcement
Actions Published
3
Lawsuit Reformer Takes
Janus-like Look
7
Centered 15 km west of Waxahachie, the temblor was felt at Venus, May-pearl, and Midlothian, as well as Alvarado, Arlington, Desoto, Grandview, and
Waxahachie.
Car Thieves Started
New Year with a Bang
8
Insurance Industry Foundation
Grantees Provide haiti Relief
10
The U.S. Geological Survey provides data regarding other earthquakes that have
involved Texas during the past 128 years.
Court Cans
Camacho for Conspiracy
11
The Oct. 22, 1882, earthquake felt in Texas was probably centered in Oklahoma
or Arkansas; the total felt area covered about 375,000 square kilometers. At Sher-
continued on page 4
SELLING STRATEGIES:
Selling Psychology
14
Nurse, CeO Arrested for
health Care Fraud
15
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III Proffers Property &
Casualty Predictions
16
P/C Insurers Weathered economic
Storm Better Than Most 20
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