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Major earthquake may put Canada's national economy in jeopardy, report says

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Major earthquake may put Canada's national economy in jeopardy, report says

According to the report issued by the Conference Board of Canada, in case a major earthquake off the coast of British Columbia, the country’s westernmost province, occurs in the next 50 years, there is a 30-percent chance that it will rock the West Coast, The Globe and Mail reports on Tuesday.

The goal was to stress-test an earthquake that results in over $30-billion in insured losses, the amount, which the insurance industry could cope with, Pedro Antunes, deputy chief economist at the Conference Board pointed out.

The estimates show that in case of 9-magnitude earthquake near the city, there would be long-lasting economic losses for the whole country.

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