The study shows that Ventura, Santa Barbara counties face an annual damage risk of $320 million from a major earthquake

It is part of life in the Three Provinces. It is the possibility of an earthquake.

A new study shows that California is expected to receive $9.6 billion annually in earthquake damage. And in Ventura and Santa Barbara counties, annual losses are estimated at about $320 million.

“This is a study we’ve updated over the past 20 years… This is our fourth major update,” said Doug Pausch, director of data science at NitamIT. He’s one of the researchers involved in a new project looking at how much earthquakes can cost parts of the nation.

“It maps earthquake risks annually across the United States, so we can compare jurisdictions, and we can compare with other hazards. It’s very useful for knowing the relative risks of earthquakes,” Bausch said.

The latest update shows that California accounts for about 65% of the country’s annual earthquake damage cost. That total is now expected to reach $14.7 billion.

“It’s a recent assessment,” Bausch said. “We look through eight return periods, from 100 years to 2,500 years, and then we assign them annually, which allows you to get the long-term average earthquake losses.”

Bausch says the numbers reflect the annual average for earthquake damage, much like an insurance company uses to calculate auto insurance.

“Of course (the state’s losses) will not amount to $9.6 billion each year, but they will be parts of the losses that will average $9.6 billion,” Bausch said.

The annual new figure for Ventura County is $220 million, and for Santa Barbara County it is $100 million.

The study was produced by the USGS for FEMA. This is important, because the data helps guide spending on earthquake preparedness.

Bausch said California is doing things that make a difference in minimizing potential harm. He noted that a number of programs have helped do things like improve earthquake resilience.

The study shows that 34 countries face a chance of significant losses from a major earthquake.

Aside from the dollars associated with earthquake recovery, there is time. It took years, and in some cases decades, to recover from the most recent major earthquakes in the state, such as the 1994 Northridge earthquake that caused massive damage in Los Angeles and Ventura counties.

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