Italian quake highlights underinsurance

Insured losses from the magnitude 6.2 earthquake that struck
central Italy in the early hours of Wednesday morning are expected
to be relatively low, according to various modelling firms.
Impact Forecasting pointed to the 2009 earthquake in the same
region, which caused economic losses of nearly $3bn on an
inflation-adjusted basis but just $560mn of insured losses.
AIR Worldwide meanwhile, noted that earthquake coverage is often
not included in standard homeowners' policies and is typically
issu