» more from Slideshows  10. Newcastle, Australia (1989)  Insured
losses: $670 million Overall losses: $1.2 billion Fatalities: 13
Described by the Australian Government as "one of Australia's
most serious natural disasters," the Newcastle earthquake of
1989 shook the area around Sydney with 5.6 magnitude tremors
that left 13 people dead and 160 injured. The government notes
that insured losses were estimated to be approximately $1
billion, although the Insurance Information Institute places the
number at $670 million.  It was estimated that the effects could
be felt in over 77,000 square miles of territory, with damage to
buildings occurring within nearly 3,500 square miles. An
estimated 35,000 homes, 147 schools and 3,000 commercial
buildings were damaged, while as m any as 400 people required
temporary housing.  Although the earthquake was relatively weak
on the Richter scale, it occurred in a populated area with many
of the buildings dating back to the 1860s, without proper
reinforcements for stress cause