New Zealand quake could cost up to $4.5 billion, Market Watch, Sept. 7. Some interesting differences between NZ and US – there most residential structures have earthquake insurance. And their new construction requires consideration of seismic risk, but relatively few older masonry buildings were retrofitted for seismic safety. Sadly, the central business district of ChristChurch lost many of its historic masonry buildings.
there most residential structures have earthquake insurance.
If you have house/building insurance then you have earthquake cover – cover from the government Earthquake Commission is included automatically.