Earthquakes cause $14.7B in annualized losses, USGS reports

Earthquakes cause $14.7 billion in damages and related losses on an annualized basis in the U.S., according to an updated estimate from the U.S. Geological Survey (USGS) and the Federal Emergency Management Agency (FEMA).

The updated figure, which is twice that of the previous annual estimate, reflects increasing property values, and the inclusion of the latest hazards and improvements to building inventories in the report, according to the USGS.

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