5.3 magnitude earthquake struck the southeast coast of Australia


Insurers are unlikely to face a large cleanup bill after a 5.3 magnitude earthquake struck Victoria, Australia.

According to catastrophe modelling firm AIR Worldwide, only minor damage was reported from the biggest quake to strike the region in more than a century.

According to the U.S. Geological Survey (USGS), the earthquake struck at a depth of 9.9 km, making this a shallow event. Shaking lasted for 30 to 40 seconds, according to local accounts.

The earthquake struck near the southeast coast of Australia 10 km southwest of Moe, the closest population centre, and 120 km southwest of Melbourne, Australia’s second-largest metropolis with a population of more than 4.1m.