A new report has identified northern Chile, among other regions, as being a “high risk” zone for future mega-earthquakes.

The report, compiled by global reinsurer Aon Benfield, says other mega-earthquake risk zones are the Lesser Antilles in the Caribbean, the Pacific Northwest in North America, Sumatra in Indonesia and Japan.

A mega-earthquake is classed as having a magnitude above eight.

The report says the reinsurance implications of such an event can already be seen in Chile where, following this year’s 8.8-magnitude earthquake in Maule, reinsurance programs are now renewing with increases of 75% or more.

“2010 has already proven to be a devastating year for earthquakes with events in Haiti and Chile providing the world with a tragic reminder of the power and destructive capabilities of these natural perils,” Aon Benfield Head of International Analytics John Moore said.

“Predicting the location of the next mega-earthquake is an inexact science, but by examining the fault lines and historical precedence of earthquake activity in five of the world’s most vulnerable regions, this report sets out to assess the current risk and improve our understanding of where and when the next mega-earthquake could hit.”

The report was produced in conjunction with the Aon Benfield UCL Hazard Research Centre.