Governor Fallin told the press that she was “disappointed,” but that other options will be considered. One of those options is a request to the U.S. Small Business Administration to help residents of Lincoln County in their recovery.

Governor Fallin said that she believes individual assistance is justified because almost 200 homes and businesses have confirmed damage. To that end, she’s asked the SBA for low-interest disaster loans for renters, homeowners and business owners to repair or replace property not otherwise covered by insurance or eligible for any other kind of assistance. Such funding would also help businesses that suffered damage in the quakes.

Earlier in November, a 5.6 magnitude quake – the strongest Oklahoma has ever recorded – struck the state, causing damage to at least 40 houses and a highway, and collapsing a tower at Shawnee, OK’s St. Gregory’s University.

In the wake of these earthquakes, Oklahoma Governor Mary Fallin has requested a federal disaster be declared. Her request was made on November 22nd, and is meant to get help for people and businesses in Lincoln and Pottawatomie counties, where the tremors have been centered. Nearly 200 homes and businesses have been damaged in those counties, according to early estimates.

If the governor’s request is approved, FEMA (the Federal Emergency Management agency) will provide grants and low-interest loans to home- and business owners and renters.

Insurance companies around the state are also rallying, redefining their coverage in Oklahoma.

According to Eqecat, insurance losses were minimized because the earthquake was relatively weak. Had it had a magnitude of 7 rather than just under 6, the insured losses would have been more than 20 times greater, is says.

Eqecat’s models are used in the insurance industry in order to assess risk, predict losses and plan coverage. Representatives of the company said its data suggests that in the affected areas, minor damage is more likely than any significant structural damage.

After years of insurance coverage prices going down, disastrous earthquakes around the world have literally rocked the insurance industry. Prices began to increase after the March temblor in Japan caused tens of billions of dollars in insured losses and much more than that in economic losses.

The legislation, dubbed the Earthquake Insurance Affordability Act, allows the California Earthquake Authority (CEA) and other non-profit insurance programs, access to federal loan guarantees in order to more efficiently and effectively capitalize for catastrophic earthquakes. Doing so would allow such programs to reduce the rates homeowners must pay, and empower more people to buy insurance in anticipation of the next major earthquake to strike California.

Senator Feinstein said, “The tragedy and devastation of the recent earthquake in Japan was a real wakeup call. “We cannot prevent an earthquake, but we must do everything we can to prepare for one by ensuring homeowners have access to affordable earthquake insurance coverage.”

“This legislation will allow homeowners to get back on their feet and recover more quickly in the event of a significant earthquake,” she continued.

Senator Boxer also spoke about the legislation, saying, she was, “…proud to join with Senator Feinstein to introduce legislation that would help homeowners in California access affordable earthquake insurance, which is critical to helping residents and communities recover and rebuild after the devastation of an earthquake.”

During the first five years the Act is in force, there is a potential savings of roughly half a billion dollars in reinsurance costs, which would be passed on to consumers as lower rates. The CEA could cut premiums by as much as 30% or reduce deductibles by as much as 50%, which would allow at least 700,000 additional California homeowners to afford earthquake insurance.

Even better, federal taxpayers won’t be footing the bill: the entire cost of the loan guarantees and the administration of the program will be covered by the participating state programs.

In addition, enacting the Earthquake Insurance Affordability Act, and increasing the number of people covered by earthquake insurance, will reduce the government’s cost of disaster recovery. This is because FEMA can’t may payments to people who have such coverage, which means every homeowner with earthquake insurance is one less that FEMA might have to supplement when a disaster-causing earthquake strikes.

Governor Neil Abercrombie, in Hawaii, issued an emergency proclamation that will allow his state to seek federal aid, after harbor facilities and boats were damaged, and homes and hotels were flooded.

Ed Teixeria, vice director of Hawaii’s State Civil Defense says the initial property damage estimate for state-owned property is at least $3 million. Privately-owned property is still being assessed.

According to Teixeria the piers in Keehi Lagoon and a small harbor in Haleiwa, both on Oahu, were among the areas suffering the most damage, while seven homes were flooded, and one dragged out to sea in Kealakekua Bay on the Big Island of Hawaii. As well, he said, nine cars were also flooded there, with one dragged into the bay, and the commercial side of the harbor also saw damage.

In Oregon, Governor John Kitzhaber and U.S. Senator Jeff Merkely also requested disaster declarations, in order to begin recovery programs for residents. Oregon officials estimated an excess of $10 million in damage at Ports Orford, Gold Beach, and Brookings.

As well, a man from Bend, OR, who ignored warnings to avoid the beach, was washed out to sea while attempting to take pictures of the tsunami waves.

California also saw damage. Governor Jerry Brown has declared a state of emergency in Del Norte, Humbolt, San Mateo, and Santa Cruz counties. There was at least $17 million in damage to the Santa Cruz harbor with 50 damaged boats, and 17 that completely sank. That estimate, however, does not include the “full extent of damage and the impact to personal property,” where are still unknown.

The Santa Cruz harbor has been designated a Coast Guard Safety Zone, and has been closed to all vessel traffic until oil and debris removal has been completed, and pollution and public safety issues have been addressed, along with the removal of any navigational hazards.

Japan’s earthquake and tsunami losses are estimated at between $15 billion to $35 billion.

The California Geological Survey has announced the posting of its fault zone maps to the ‘net for the first time. Until now the 547 maps were only available in paper or disc formats.

California state geologist John Parish explained that his agency uses Google Maps’ address-matching capabilities to link users to the right map for a specific property.

It’s already required by state law that home buyers be informed of whether or not the home they wish to purchase lies in an earthquake fault zone.

It should be noted that having this information on the net does not affect the need for earthquake insurance.

Central Arkansas was rattled by a series of earthquakes three days ago, including one with a magnitude of 3.9, though some reports said that it felt closer to 4.2.

The U.S. Geological Survey confirmed the 3.9 rating however, and also reported a number of other quakes centered near Guy, AR, with magnitudes ranging from 1.7 to 3.9.

The strongest of the temblors occurred around 1:00 in the afternoon, and was felt in the northwestern part of the state.

Fortunately, there was no structural damage, and no one was injured.

This is just the most recent in a series of earthquakes, the last of which were about a month ago. That last series didn’t have any quakes over 3.0, however.

Dr. Steve Horton, a research scientist from the University of Memphis, told the press at that time that Arkansas is getting a lot of unusual earthquakes. At that time, they’d logged more than sixty in the previous thirty days.

“In the New Madrid Seismic Zone there’s approximately 200 per year, so if we had that many in Central Arkansas in less than a month, something is going on,” said Dr. Horton.

According to local NPR station KGOU a quake at 9:06 CDT on Wednesday morning was one of the strongest earthquakes ever recorded in Oklahoma, left two people with injuries (minor ones), and was felt in parts of five other states, including Texas.

The United States Geological Survey rated the temblor at a magnitude of 4.3 and said the epicenter was about six miles northeast of Norman, OK.

Oklahoma has only recorded three stronger earthquakes since becoming a state one hundred and three years ago. The sharpest ever was a 5.0 shaker that struck El Reno, a town just west of Oklahoma City, in 1952.

For the last twenty-five years, earthquake research has been conducted at the lab using four shake tables, which simulate the effect of seismic waves moving through layers of soil beneath building foundations, in order to gauge how different structures respond to that sort of stress. The expansion will allow the housing of five 50-ton-capacity shake tables.

Ian Buckle, the director of the Large-Scale Structures Lab at the test facility, explained, “This will be a quantum jump in the range and complexity of experiments that can be undertaken in both new and existing laboratories, with advances in state-of-the-art earthquake engineering that are not currently possible.” He added, “Safer buildings, bridges and more resilient communities will be the end result.”

Buckle also said that the total combined area of the new and existing facilities at the university’s Center for Civil Engineering Earthquake Research will be greater than 30,000 square feet. Construction is expected to begin this month, with a projection completion date of Fall, 2013, and a cost of $18 million.

The $12.2 million grant is part of $50 million in grants that the Commerce Department’s National Institute of Standards and Technology awarded this week to build new scientific research facilities across the country.

According to U.S. Commerce Secretary Gary Lock, “Strengthening research and development in the United States is critical to our ability to create jobs and remain competitive. These construction grants will help the U.S. produce world-leading research in science and technology that will advance our economic growth and international competitiveness.”

Source: The Insurance Journal