LOCAL NEWS: Government agency warns again of lack of earthquake coverage in Southeast Missouri (11/8/22)

James Polwerk adjusts settings on the seismometer on December 14, 2011, at the New Madrid, Missouri, Historical Museum. “There is a significant and growing gap in earthquake insurance protection” in the New Madrid earthquake zone, the Missouri Department of Commerce and Industry reported Monday, November 7th.

Southeast Missourian Profile

The Missouri Department of Commerce and Industry (MDCI) released a statement Monday, November 7, expressing renewed concern about the lack of earthquake coverage in a 150-mile area known as the New Madrid Seismic Zone.

MDCI data from 2021 shows that earthquake coverage in the NMSZ has decreased by 49% from 2000, while earthquake coverage costs there have increased by 816%.

District-wide, MDCI estimates that only 7% to 16% of homeowners in the target area report having earthquake insurance.

The NMSZ is one of the most active seismic zones in the country, averaging over 200 small earthquakes annually.

In 1811 and 1812, the area produced some of the largest earthquakes in US history, with a magnitude of 7.0 to 7.5.

Several studies have projected total losses if a similar-sized earthquake occurred in the NMSZ today, with estimates ranging from $110 billion to $290 billion in total insured losses.

Since 1974, a total of more than 4,000 earthquakes have been recorded in the NMSZ.

Scientific experts estimate there is a 25% to 40% chance of another large-scale earthquake within the next 50 years, according to the MDCI release.

The New Madrid seismic zone extends south from Cairo, Illinois, and includes the Show Me State cities of Hayti, Caruthersville, and New Madrid, among others.

Seven states are included in the region.

In addition to Missouri, parts of Illinois, Indiana, Arkansas, Kentucky, Tennessee, and Mississippi are also said to be at risk of an earthquake.

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