Verisk’s Catastrophe and Risk Solutions group estimates that economic losses from the earthquake sequence that begins on June 24 in Venezuela will exceed $10 billion. Multiple reports say the event is the strongest earthquake to affect Venezuela since 1900 and causes widespread damage across northern Venezuela. The company’s estimate reflects the scale of the destruction and the likely costs associated with insured and broader economic impacts.
The coverage also notes that the earthquake highlights challenges within Venezuela’s insurance market. While Verisk’s figures focus on economic losses, the reporting describes how the magnitude of the quake and the distribution of damage can expose limitations in coverage and risk management in the country.
Verisk’s analysis is presented as a forward-looking estimate rather than a final tally, consistent with how catastrophe modeling typically works after major natural disasters. The articles reference the company’s role in providing data analytics and catastrophe risk solutions for the insurance industry, and they frame the $10 billion figure as an initial assessment based on the quake’s characteristics and observed impact.
