tHE 2 MARCH 1987 Edgecumbe earthquake of magnitude (ML) 6.3 resulted in a total loss of some NZS430M and an insured loss of about NZS330, (non inflation adjusted). Coupled with other world Wide natural disasters resulting in large loss costs, particularly insurance costs, the Edgecumbe Earthquake contributed to increasing international costs from natural hazards. As well as putting Increasing demands on the world insurance markets it also drew attention of insurers to the potential of Earthquake loss in New Zealand.
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