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27.02.10

EQECAT estimates the total value of economic damage to be in the range of $15 to $30 billion USD

Categories: Costos daños

EQECAT estimates the total value of economic damage to be in the range of $15 to $30 billion USD (at a conversion rate of 520 Chilean Pesos, this translates to a range of 8 to 16 trillion CLP). This equates to 10 to 15% of Chile's real GDP. While this constitutes a major disaster, Chile's widespread adoption and enforcement of modern, seismic-resistant building practices has mitigated the potential for devastation. While some buildings will have collapsed or suffered irreparable damage, EQECAT expects these to be a minority of the overall building stock. Costs of reconstruction often exceed the value of economic damage since new construction typically uses newer (current) building standards.

Damages in the state of Santiago are expected to exceed 50% of the total damages. Santiago is the largest commercial and population center in Chile with almost 5 million people in the city of Santiago experiencing very strong ground motions from this event. Immediately to the west with a smaller population and higher ground motions, damage the state of Valparaíso is expected to be about 25% of the total damage from this event.

The most severe ground motions are expected in soft soil areas in the coastal states of Valparaíso, O'Higgins, Maule and Biobio. Damage in these areas will not contribute as greatly to the total damage because the populations and resulting building and asset exposure is less in these areas.

We estimate damage distribution by occupancy as follows:

Occupancy:

Proportion of Total Damage:

Residential

55 to 65%

Commercial

20 to 30%

Industrial

15 to 20%

This distribution corresponds roughly to the distribution of occupancy over the total inventory, with residential occupancies experiencing slightly higher damage concentrations relative to their overall share.

EQECAT will continue to monitor this event and region, and will provide additional information as it becomes available.

For more information, contact:

PR@eqecat.com

FUENTE

http://www.eqecat.com/catWatchREV/secureSite/report.cfm?id=220

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