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Colombia earthquake could trigger property, BI, aviation and life claims
The 7.4 quake struck at about 7:34 a.m. local time on Aug. 10 near San José del Palmar, with at least 22 deaths confirmed as the toll was expected to rise.
A magnitude 7.4 earthquake in western Colombia has caused widespread structural damage and disruption, raising the prospect of insurance losses across property, business interruption, aviation and life insurance portfolios, according to Insurance Business.
The quake hit at 7:34 a.m. local time on Aug. 10 near San José del Palmar in Chocó on the Pacific side, with the Colombian Geological Service placing its depth at about 103 kilometers. By Monday afternoon, at least 22 people had been confirmed dead, Reuters reported, with Pereira accounting for 18 of the fatalities, and deaths also recorded in Manizales and Buenaventura.
Authorities reported around 25 buildings collapsed, while areas including Cali reported extensive physical damage. In Manizales, footage showed the collapsed spire of a church and deep fissures in a nearby building façade, and rescue teams were deployed after reports of people trapped under rubble.
The event also risks broader economic strain through transport and airport disruptions. Colombia’s aviation authority reported problems at airports serving Pereira, Manizales, Quibdó, Armenia, Cartago and Buenaventura, including temporary terminal closures for inspections, which could complicate emergency operations and contribute to claims across multiple insurance lines.