As California natives, we know it’s hard to think about how our lives would be impacted if and when a big one really does send us rocking. Besides stocking up on water, food, and other essentials, you’ll want to make sure your business is earthquake-ready too. Is your California Earthquake Certification up to date? Are you selling earthquake insurance? Knowing just how much our local and state economies might be affected by a disastrous quake might be a sobering wake up call.
Dr. Lucy Jones, Seismologist, Founder & Chief Scientist of The Dr. Lucy Jones Center for Science & Society, and author of The Big Ones – How Natural Disasters Have Shaped Us, has revealed some new facts about the inevitable California “big one”:
- The City of Los Angeles sits atop 100 known geological faults.
- An estimated $50 billion in direct losses might result from the next biggie.
- Fires triggered from the big quake could double the direct losses.
- The business losses from the disruption in services (water, power, transportation) could be quadruple the amount of direct losses.
- Up to 25% of all buildings might be unusable after the quake.
- A possible mass exodus of California residents could be a substantial drag on local economies.
- Since 40% of all imports to the US come through California, a major quake will substantially disrupt the national economy.
- Broken pipelines that traverse the San Andreas Fault, supply most of Nevada and Arizona’s fuel. So, the disruption in their economies will be substantial too.
No one likes to think about these things happening, but discussing them reminds us to be prepared at home and in our businesses…
Insurance agents, are you talking with your clients about earthquake insurance? Our course #216 – California Earthquake Insurance is FREE and will get you 1 hour of CE credit toward your next renewal. Learn what you need to know about California earthquake insurance and make sure your clients are covered.
Adjusters, are you prepared? Did you know you will NOT be able to adjust California quake damage unless you are California Earthquake Certified? Our course #300 – California Earthquake Certification will get you certified and give you 12 hours CE credit toward your next renewal.