Japan earthquake News

Economic Property Damages of Japan Earthquakes to Cost $2.5B-$3.5B: RMS

RMS, the Newark, Calif.-based catastrophe risk management firm, estimated that economic property damage for both the April 15 moment magnitude (Mw) 7.0 earthquake and April 14 Mw6.4 earthquake in Japan’s Kumamoto Prefecture to be between $2.5 billion and $3.5 billion. …

Japanese Earthquakes Could Cost Insurers $2.9 Billion: AIR Worldwide

An earthquake that struck southern Japan on April 16 will probably cost insurers as much as 320 billion yen ($2.9 billion), according to catastrophe modeler AIR Worldwide. The cost might be as low as 180 billion yen, the company said …

Death Toll Rises from Japanese Earthquakes; Supply Chain Disruptions Examined

The death toll from earthquakes that struck southern Japan rose to 42 and the economic impact began to reverberate Monday as companies surveyed damage and the potential effects on production from supply-chain disruptions. The quakes that struck the island of …

Sony’s Camera Chip Factory Halts Production After Japan Temblor; AIR Comments

The earthquake in southern Japan that killed nine people, damaged buildings and derailed a bullet train also halted production at a Sony Corp. camera-chip factory, a key part of the global smartphone supply chain. The plant in Kumamoto on the …

Willis Re Unveils New Japan Tsunami Model

Willis Re, the reinsurance division of Willis Group Holdings, the risk adviser, insurance and reinsurance broker, has released a new Japan Tsunami Model to advance the industry’s understanding of catastrophic tsunami losses. The tsunami model, which was developed in-house alongside …

Japan Assesses Damage from Earthquake in Olympics Site Region

The damage from an overnight earthquake in a mountainous area of central Japan that hosted the 1998 winter Olympics proved more extensive than initially thought. A daylight assessment Sunday found at least 50 homes destroyed in two villages, and 41 …

Report: $100M in Losses from Southern California Quake

The moderate earthquake that struck Southern California in spring did more damage than people may think – and a bigger quake on that fault could be more devastating than a “big one” on the region’s infamous San Andreas Fault, a …

Magnitude 5.8 Earthquake Hits Japan’s Fukushima Prefecture-Kyodo

An earthquake with a preliminary magnitude of 5.8 struck Fukushima Prefecture in Japan early Friday morning, Kyodo reported, quoting the Japan Meteorological Agency. No tsunami warning has been issued, the news agency said. The focus of the quake was around …

First Confirmed Japanese Tsunami Debris in California

A barnacle-covered fishing boat that washed ashore this month in Crescent City, California, has been confirmed as the first debris from the 2011 tsunami in Japan to reach California’s shores. The National Oceanic Atmospheric Administration confirmed the boat’s origin with …

RIMS in Southern California Touts Risks

Risk managers will play a greater role in strategic planning in the near future, according to a report issued on Monday. That was among the plethora of risk related information delivered at the annual Risk and Insurance Management Society conference …