AIR: China quake to produce $300m-$1bn insured losses
Catastrophe risk modeling firm AIR Worldwide estimates that insured losses from the Chengdu earthquake are likely to exceed 2bn yuan ($300m) and could reach 7bn yuan ($1bn). The estimates cover property losses for residential, commercial, industrial and construction all risks/erection all risks (CAR/EAR) lines of business.
AIR added that total losses to insured and uninsured property from the earthquake are likely to exceed 140 billion yuan ($20 billion). AIR cautioned that there is a high level of uncertainty in
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