Venezuela & Verisk Analytics

Venezuela: Venezuela experienced two powerful earthquakes, resulting in widespread destruction, thousands of deaths and injuries, and a severe humanitarian crisis. The country's infrastructure, particularly in Venezuela — La Guaira and Venezuela — Caracas, suffered extensive damage, and its already fragile healthcare system is overwhelmed. The economic losses are projected to exceed $10 billion.

Verisk Analytics: Verisk Analytics, a data analytics and technology partner to the global insurance industry, estimated economic losses from the earthquakes in Venezuela would exceed $10 billion, highlighting the challenges in estimating insured losses due to Venezuela's macroeconomic conditions.

Verisk Analytics: Verisk Analytics analyst Torbjorn Soltvedt commented on Iran's goal to raise economic costs for Gulf states and predicted continued market volatility.