Venezuela Earthquakes Result in 2,595 Fatalities and Extensive Damage
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 43 minutes ago
0mins
Source: CNBC
- Casualty Update: The twin earthquakes in Venezuela have resulted in 2,595 fatalities, an increase of 300 from the previous day, with over 12,000 injuries reported, highlighting the immense challenges and urgency of post-disaster recovery efforts.
- Severe Structural Damage: Preliminary satellite analysis indicates that approximately 58,870 buildings have been damaged or destroyed, with nearly 800 buildings collapsed and 189 completely obliterated, posing significant challenges to national infrastructure and economic recovery.
- Economic Loss Assessment: The United Nations Development Programme projects direct economic damages at $6.7 billion, equivalent to 6% of GDP, while risk modeler Verisk estimates total economic losses exceeding $10 billion, placing a heavy burden on the nation's finances.
- International Rescue Response: The U.S. has deployed over 900 rescue personnel to Venezuela and pledged $150 million in humanitarian aid, reflecting the international community's concern and support for the country's recovery efforts following the disaster.
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Analyst Views on VRSK
Wall Street analysts forecast VRSK stock price to rise
12 Analyst Rating
5 Buy
6 Hold
1 Sell
Moderate Buy
Current: 183.720
Low
220.00
Averages
252.89
High
300.00
Current: 183.720
Low
220.00
Averages
252.89
High
300.00
About VRSK
Verisk Analytics, Inc. is a data analytics and technology provider serving clients in the insurance ecosystem. The Company offers predictive analytics and decision support solutions to clients in rating, underwriting, claims, catastrophe, weather risk, and many other fields. Its Insurance segment serves its property and casualty insurance customers across personal and commercial lines of business, focusing on insurance programs, the prediction of loss, the selection and pricing of risk, and compliance with their reporting requirements in each the United States state in which they operate. It also develops and utilizes machine-learned and artificially intelligent models to forecast scenarios and produce both standard and customized analytics that help its customers better manage their businesses, including detecting fraud before and after a loss event. It provides data aggregation and reporting services for catastrophe and large loss claims across the industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Venezuela Earthquakes Result in 2,595 Fatalities and Extensive Damage
- Casualty Update: The twin earthquakes in Venezuela have resulted in 2,595 fatalities, an increase of 300 from the previous day, with over 12,000 injuries reported, highlighting the immense challenges and urgency of post-disaster recovery efforts.
- Severe Structural Damage: Preliminary satellite analysis indicates that approximately 58,870 buildings have been damaged or destroyed, with nearly 800 buildings collapsed and 189 completely obliterated, posing significant challenges to national infrastructure and economic recovery.
- Economic Loss Assessment: The United Nations Development Programme projects direct economic damages at $6.7 billion, equivalent to 6% of GDP, while risk modeler Verisk estimates total economic losses exceeding $10 billion, placing a heavy burden on the nation's finances.
- International Rescue Response: The U.S. has deployed over 900 rescue personnel to Venezuela and pledged $150 million in humanitarian aid, reflecting the international community's concern and support for the country's recovery efforts following the disaster.
See More
Venezuela Earthquake Losses Estimated Over $10 Billion
- Economic Loss Assessment: Verisk estimates that the economic losses from the June 24 earthquake sequence in Venezuela will likely exceed $10 billion, highlighting the country's vulnerability in disaster response amid high inflation and low insurance penetration.
- Insurance Loss Uncertainty: Verisk indicated that uncertainty surrounding insured losses is higher than usual due to Venezuela's elevated inflation, low insurance penetration, sanctions-related market complexities, and challenges in valuing insured assets, potentially leading to greater financial strain on insurers.
- Damage Analysis: The earthquakes caused the heaviest damage in the Caracas metropolitan area and La Guaira state, with an estimated 1,400 buildings destroyed, while significant destruction was also reported across Aragua, Carabobo, and Yaracuy states, indicating substantial challenges for post-disaster reconstruction.
- Stock Price Reaction: Verisk's stock traded marginally lower during pre-market hours on Thursday, reflecting market concerns regarding the company's future financial performance in light of such significant economic losses and uncertainties.
See More
Venezuela Earthquake Losses Estimated Over $10 Billion
- Economic Loss Estimate: Verisk estimates that the economic losses from the June 24, 2026 earthquakes in Venezuela will exceed $10 billion, highlighting the country's vulnerability under macroeconomic conditions characterized by high inflation and low insurance penetration.
- Impact of the Earthquake: The earthquake struck near Caracas, with a 7.2 magnitude foreshock followed by a 7.5 magnitude mainshock, resulting in the destruction of approximately 1,400 buildings, particularly in the Caracas metropolitan area and La Guaira state.
- Insurance Market Challenges: Verisk notes significant uncertainty in estimating insured losses due to Venezuela's complex economic environment, influenced by factors such as insurance penetration rates, inflationary pressures, and difficulties in accurately valuing insured assets.
- Building Seismic Performance: Although modern engineering standards exist, the seismic performance of buildings in urban areas of Venezuela varies significantly due to local construction practices and material quality, complicating the assessment of post-earthquake losses.
See More
Trucker Path Partners with Verisk to Enhance Cargo Security
- Collaboration for Safety: Trucker Path's partnership with Verisk CargoNet introduces cargo theft trend data, enabling truck drivers to identify high-risk areas, thereby optimizing routing decisions and enhancing transportation safety.
- Theft Risk Data: In the first five months of 2026, Verisk CargoNet recorded 1,120 cargo theft incidents with losses exceeding $121 million, highlighting the critical importance of cargo security within the U.S. supply chain.
- Real-Time Navigation Features: The Trucker Path platform offers real-time information on parking availability, fuel prices, and weigh station statuses, and with the integration of Verisk data, drivers can better avoid risky areas, improving operational efficiency.
- Data-Driven Decision Making: By integrating Verisk CargoNet's theft intelligence into navigation tools, Trucker Path aids transportation companies in reducing theft risks, promoting data-informed decision-making, and enhancing overall supply chain security.
See More
Trucker Path Partners with Verisk to Enhance Cargo Security
- Safety Enhancement Partnership: Trucker Path's collaboration with Verisk CargoNet introduces cargo theft trend data, enabling truck drivers to identify high-risk areas, thereby optimizing routing decisions and increasing safety awareness, which is expected to significantly reduce cargo theft incidents.
- Theft Risk Data: In the first five months of 2026, Verisk CargoNet recorded 1,120 cargo theft incidents with losses exceeding $121 million, highlighting the severity of cargo security issues and prompting Trucker Path to integrate such data into its navigation platform to enhance drivers' risk management capabilities.
- Real-Time Information Updates: The Trucker Path platform now provides theft risk ratings by county (Low, Medium, High) and updates the total stolen vehicle count monthly, helping drivers stay informed and avoid high-risk areas, thereby improving transportation safety.
- Market Demand Response: As cargo theft risks rise, Trucker Path's integration of Verisk data demonstrates a keen response to the transportation industry's safety needs, aiming to enhance overall supply chain security and efficiency through data-driven decision support.
See More
US Stocks Rise on Hopes of Iran Peace Agreement
- Market Rally: US stocks extended Thursday's rally on Friday, with the S&P 500 rising 0.50%, the Dow Jones up 0.70%, and the Nasdaq 100 increasing by 0.64%, reflecting investor optimism about a potential interim peace agreement between the US and Iran.
- Consumer Confidence Boost: The University of Michigan's Consumer Sentiment Index rose by 4.1 to 48.9 in June, surpassing expectations of 46.0, indicating a rebound in consumer confidence that could stimulate spending and support economic growth.
- Oil Price Decline: WTI crude oil prices fell 3.23% on Friday amid hopes for a US-Iran agreement, which may lower transportation costs and positively impact fuel-dependent sectors like airlines.
- Strong IPO Performance: SpaceX closed at $161 per share on Friday, up 19% from Thursday's IPO price of $135, indicating robust market demand and potentially fostering positive sentiment for upcoming AI company IPOs.
See More
Venezuela Earthquakes Result in 2,595 Fatalities and Extensive Damage
- Casualty Update: The twin earthquakes in Venezuela have resulted in 2,595 fatalities, an increase of 300 from the previous day, with over 12,000 injuries reported, highlighting the immense challenges and urgency of post-disaster recovery efforts.
- Severe Structural Damage: Preliminary satellite analysis indicates that approximately 58,870 buildings have been damaged or destroyed, with nearly 800 buildings collapsed and 189 completely obliterated, posing significant challenges to national infrastructure and economic recovery.
- Economic Loss Assessment: The United Nations Development Programme projects direct economic damages at $6.7 billion, equivalent to 6% of GDP, while risk modeler Verisk estimates total economic losses exceeding $10 billion, placing a heavy burden on the nation's finances.
- International Rescue Response: The U.S. has deployed over 900 rescue personnel to Venezuela and pledged $150 million in humanitarian aid, reflecting the international community's concern and support for the country's recovery efforts following the disaster.
See More
Venezuela Earthquake Losses Estimated Over $10 Billion
- Economic Loss Assessment: Verisk estimates that the economic losses from the June 24 earthquake sequence in Venezuela will likely exceed $10 billion, highlighting the country's vulnerability in disaster response amid high inflation and low insurance penetration.
- Insurance Loss Uncertainty: Verisk indicated that uncertainty surrounding insured losses is higher than usual due to Venezuela's elevated inflation, low insurance penetration, sanctions-related market complexities, and challenges in valuing insured assets, potentially leading to greater financial strain on insurers.
- Damage Analysis: The earthquakes caused the heaviest damage in the Caracas metropolitan area and La Guaira state, with an estimated 1,400 buildings destroyed, while significant destruction was also reported across Aragua, Carabobo, and Yaracuy states, indicating substantial challenges for post-disaster reconstruction.
- Stock Price Reaction: Verisk's stock traded marginally lower during pre-market hours on Thursday, reflecting market concerns regarding the company's future financial performance in light of such significant economic losses and uncertainties.
See More
Venezuela Earthquake Losses Estimated Over $10 Billion
- Economic Loss Estimate: Verisk estimates that the economic losses from the June 24, 2026 earthquakes in Venezuela will exceed $10 billion, highlighting the country's vulnerability under macroeconomic conditions characterized by high inflation and low insurance penetration.
- Impact of the Earthquake: The earthquake struck near Caracas, with a 7.2 magnitude foreshock followed by a 7.5 magnitude mainshock, resulting in the destruction of approximately 1,400 buildings, particularly in the Caracas metropolitan area and La Guaira state.
- Insurance Market Challenges: Verisk notes significant uncertainty in estimating insured losses due to Venezuela's complex economic environment, influenced by factors such as insurance penetration rates, inflationary pressures, and difficulties in accurately valuing insured assets.
- Building Seismic Performance: Although modern engineering standards exist, the seismic performance of buildings in urban areas of Venezuela varies significantly due to local construction practices and material quality, complicating the assessment of post-earthquake losses.
See More
Trucker Path Partners with Verisk to Enhance Cargo Security
- Collaboration for Safety: Trucker Path's partnership with Verisk CargoNet introduces cargo theft trend data, enabling truck drivers to identify high-risk areas, thereby optimizing routing decisions and enhancing transportation safety.
- Theft Risk Data: In the first five months of 2026, Verisk CargoNet recorded 1,120 cargo theft incidents with losses exceeding $121 million, highlighting the critical importance of cargo security within the U.S. supply chain.
- Real-Time Navigation Features: The Trucker Path platform offers real-time information on parking availability, fuel prices, and weigh station statuses, and with the integration of Verisk data, drivers can better avoid risky areas, improving operational efficiency.
- Data-Driven Decision Making: By integrating Verisk CargoNet's theft intelligence into navigation tools, Trucker Path aids transportation companies in reducing theft risks, promoting data-informed decision-making, and enhancing overall supply chain security.
See More
Trucker Path Partners with Verisk to Enhance Cargo Security
- Safety Enhancement Partnership: Trucker Path's collaboration with Verisk CargoNet introduces cargo theft trend data, enabling truck drivers to identify high-risk areas, thereby optimizing routing decisions and increasing safety awareness, which is expected to significantly reduce cargo theft incidents.
- Theft Risk Data: In the first five months of 2026, Verisk CargoNet recorded 1,120 cargo theft incidents with losses exceeding $121 million, highlighting the severity of cargo security issues and prompting Trucker Path to integrate such data into its navigation platform to enhance drivers' risk management capabilities.
- Real-Time Information Updates: The Trucker Path platform now provides theft risk ratings by county (Low, Medium, High) and updates the total stolen vehicle count monthly, helping drivers stay informed and avoid high-risk areas, thereby improving transportation safety.
- Market Demand Response: As cargo theft risks rise, Trucker Path's integration of Verisk data demonstrates a keen response to the transportation industry's safety needs, aiming to enhance overall supply chain security and efficiency through data-driven decision support.
See More
US Stocks Rise on Hopes of Iran Peace Agreement
- Market Rally: US stocks extended Thursday's rally on Friday, with the S&P 500 rising 0.50%, the Dow Jones up 0.70%, and the Nasdaq 100 increasing by 0.64%, reflecting investor optimism about a potential interim peace agreement between the US and Iran.
- Consumer Confidence Boost: The University of Michigan's Consumer Sentiment Index rose by 4.1 to 48.9 in June, surpassing expectations of 46.0, indicating a rebound in consumer confidence that could stimulate spending and support economic growth.
- Oil Price Decline: WTI crude oil prices fell 3.23% on Friday amid hopes for a US-Iran agreement, which may lower transportation costs and positively impact fuel-dependent sectors like airlines.
- Strong IPO Performance: SpaceX closed at $161 per share on Friday, up 19% from Thursday's IPO price of $135, indicating robust market demand and potentially fostering positive sentiment for upcoming AI company IPOs.
See More
