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Damages from Turkey quake estimated to surpass $20 billion

Locals carry their belongings from a damaged building, in the aftermath of the deadly earthquake in Iskenderun, a coastal town of Hatay province, Turkey February 14, 2023. REUTERS/Umit Bektas

Damages from deadly earthquakes in Turkey last week will probably exceed $20 billion, the risk modelling company Verisk estimated on Tuesday.

Only a fraction of the damages - likely more than $1 billion - is covered by insurance, Verisk said.

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