LOCAL NEWS: Fewer Missourians as earthquake coverage in New Madrid high-risk area (5/4/22)

The Emergency Preparedness Bucket is on display at the Focus Group Meeting on Earthquakes held on July 28 at the Osage Center in Cape Girardeau. According to a new report released on Monday, earthquake coverage within the New Madrid Fault Zone has fallen to historic lows.

Jeff Long

This week the Missouri Department of Commerce and Insurance (DCI) reported a new historic low for the area known as the New Madrid Seismic Zone (NMSZ).

DCI officials said Monday that insurance coverage in the top-risk location in Missouri has fallen nearly 50% since 2000, from 60.2% to 11.4%.

The NMSZ is reported to be the most active seismic zone in the United States east of the Rocky Mountains and covers parts of five states: southeastern Missouri, northeastern Arkansas, western Tennessee, western Kentucky, and southern Illinois.

The 150-mile seismic zone includes the area south of Cairo, Illinois, and across Haiti, Carothersville, and New Madrid in Missouri.

Earlier, the last recorded earthquake occurred in southeastern Missouri in the past seven days – a magnitude 1.3 occurred 3 miles south of Dexter, Missouri, in Stoddard County.

An earthquake less than 2.5 on the Richter scale, which occurs in the United States, cannot be felt by the millions according to Michigan Tech, but it can be picked up by a seismograph.

Excellent shock

DCI said increased insurance costs and misinformation were at the heart of the decline in NMSZ coverage.

State officials said premiums for earthquake coverage have risen 816% since the dawn of the 21st century.

Adding to the problem, DCI said, some consumers in the area believe they already have earthquake coverage, adding that standard homeowner policies do not cover earthquake damage.

“The southeastern quadrant of Missouri that includes the New Madrid Seismic Zone experiences about 200 small earthquakes each year,” said DCI Director Clara Lindley Myers.

“It appears that many of the most vulnerable consumers who live in that area do not know that their homeowners’ or renters’ insurance policies do not cover earthquake damage.”

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DCI will host the first Central US Earthquake Insurance Summit from May 23-25 ​​in St. Louis.

In an effort to find a solution to reverse the drop in coverage, event organizers said they would bring together insurance industry representatives, regulators, government officials and emergency management professionals.

“Despite our efforts, the earthquake coverage rate in the most vulnerable areas of Missouri has fallen to a record low and the gap between the insured and the uninsured is growing,” said Lindley Myers.

“To fight this problem, we’re taking the extra step of getting key people together to work on a solution.”

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