From the article:
Northern California suffered its strongest earthquake in 25 years on Sunday, and although 120 people were injured, not a single fatality was reported. Meanwhile, the U.S. Geological Survey put initial estimates of economic losses at $1 billion. Both the low human cost and high economic cost illustrate constants in natural disasters: They are far more expensive—and far less deadly—in rich countries.
Earthquakes are more expensive in rich areas because there’s more to break. A barrel containing $16,000 worth of pinot noir, for example, fell and smashed at Dahl Vineyards on Sunday. North America accounted for one out of six global catastrophes in 2013, according to an analysis by insurance firm Swiss Re. But it accounted for only 1 percent of the victims, compared with as much as 23 percent of the economic loss. (Perhaps of most interest to an insurance company: It accounted for 42 percent of the insured losses worldwide.)
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