Japan earthquake News

AM Best: Japan Quake’s Effect on Insurers ‘Manageable; KCC Says Losses to Hit $6.4B

The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is expected to be manageable relative to the sector’s net profit, according to AM Best in a market commentary. Japan’s four …

Japan Earthquake Casts Cloud Over Push to Restart Nuclear Plants

The powerful earthquake that hit Japan’s western coast on New Year’s Day has underscored the country’s exposure to natural disasters, casting fresh doubt over a push to bring its nuclear capacity back online. Nuclear power plants dot the coast of …

Japan Adds Rescuers as Death Toll From Jan. 1 Quake Rises to 64

The death toll in the wake of the Jan. 1 earthquake off Japan’s northwest coast rose above 60 as the government doubled the number of personnel dispatched to the affected areas to bolster rescue operations. The number of reported fatalities …

Update: Major Japan Quake Topples Buildings, Killing Nearly 50 People

The death toll from a powerful earthquake that toppled buildings in the Noto Peninsula on Japan’s northwest coast rose to nearly 50 as rescue workers searched for survivors trapped under rubble. One of the places hardest hit from Monday’s magnitude-7.6 …

Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon

Preliminary economic losses from natural hazards billion during the first quarter of 2022 totaled $32, of which less than 50% (or $14 billion), was covered by public and private insurers, according to a report published by Aon. Although the first …

Japan’s Powerful Earthquake Estimated to Cost Insurers $2 Billion-$4 Billion: Verisk

The powerful earthquake that jolted Japan’s northeast coast last week is expected to cause insured property losses between $2 billion and $4 billion, modeling firm Verisk said on Thursday. About $400 million to $820 million of the losses will stem …

Update: Japan Warns of Blackouts After Earthquake Causes Major Power Shortage

Japanese turned off neon signs, dimmed their lights and dialed down thermostats on Tuesday after the government issued an urgent call to save energy to avoid blackouts after an earthquake last week caused a serious power shortage. Up to 3 …

Update: Magnitude 7.4 Earthquake Hits Near Japan’s Fukushima

A magnitude-7.4 earthquake struck northern Japan near Fukushima prefecture late on Wednesday, killing two people and injuring dozens, as well as disrupting power and some factories. About 2,000 buildings were still without power as of 4:25 p.m. in Japan’s northeastern …

Tokyo Jolted by Strongest Earthquake Since 2011, With Injuries Reported

A magnitude 5.9 earthquake struck near Tokyo late Thursday, rattling parts of the capital the most since the March 2011 disaster. Few train services remained disrupted the next morning, while some injuries were reported. The Japan Meteorological Agency, which revised …

$1B Insurance Price Tag for U.S. Severe Weather in March (and Other Global Events): Aon

Multiple U.S. severe weather outbreaks, including tornadoes, hail, and flooding, resulted in losses of more than $1 billion for public and private insurers during March, with economic costs approaching $2 billion, according to Aon’s monthly Global Catastrophe Recap report, which …