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An earthquake would cost BC economy billions: study

VANCOUVER (NEWS1130) – Is Canada prepared for “the big one?” A new study says it isn’t.

A 9.0-magnitude earthquake near Vancouver would cost the economy about $75 billion, according to new research. Existing infrastructure would bear the majority of losses; damage to ports and other business hubs would mean the economy as a whole would be shot.

Dr. Jayanta Guin of AIR Worldwide says the Lower Mainland would feel the most intense shaking.

“It’s also going to trigger a tsunami, a liquefaction and a landslide,” he explains. “Because of its sheer magnitude, the intensity will be felt all throughout the province of British Columbia.”

Guin also says while Vancouver would be largely shielded from a tsunami, the western coast of Vancouver Island would see a lot of damage.

The study was done for the Insurance Bureau of Canada, which is calling for a national earthquake strategy.