Natural phenomenon in the form of a violent convulsion of the earth’s surface. The risks of earthquake and subterranean fire (fire of volcanic origin) are excluded from the standard fire policy. High risk areas are designated as ‘earthquake zones’. Earthquake cover can be obtained for either fire damage or earthquake shock damage as an additional peril. Subterranean fire can also be insured in this way. The risk is sometimes securitised as a catastrophe bond.