Japan earthquake News

Japan Quakes to Cost Insurance Industry $2B-$3B Annually: Karen Clark & Co.

For insurers and reinsurers, the 1995 Kobe earthquake produced $3 billion in insured property losses, but a repeat of a more devastating quake that happened 72 years earlier could bring $225 billion in industry losses. And a more typical level …

Tsunami-Wrecked Fukushima Nuclear Plant Begins Fuel Removal in Melted Reactor

The operator of the tsunami-wrecked Fukushima nuclear plant began removing fuel Monday [April 15] from a cooling pool at one of three reactors that melted down in the 2011 disaster, a milestone in what will be a decades-long process to …

Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap

The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses, according to an Aon report titled “Weather, …

California Wildfires, Hurricane Michael Top List of 2018’s Costliest Natural Disasters: Munich Re

The costliest natural catastrophes occurred in the United States in 2018 with one of California’s devastating wildfires and Hurricane Michael topping the list, according to Munich Re. A report from Munich Re on last year’s natural disasters pointed to “clear …

Natural Disasters in September Bring Costliest Damages to Date for 2018: Aon Report

Hurricane, flood, and earthquake damages made September the costliest month for natural catastrophes in 2018, according to a report from Aon’s Impact Forecasting team. September is typically the busiest month for tropical cyclone activity around the globe – and 2018 …

Rescues, Power Restoration Underway on Japan’s Northern Island Hit by Quake

Japan’s northern island of Hokkaido began to restore power after a strong earthquake overnight knocked out electricity throughout the entire prefecture of more than 5 million people. The magnitude 6.7 quake that hit on the western part of the island …

Earthquake Hits Japan’s Industrial Heartland, Causing 3 Deaths; Trains, Factories Halted

Three people were confirmed dead and almost 100 injured after a strong earthquake hit Osaka on Monday morning, rattling one of Japan’s industrial heartlands and halting trains and factories across the region. The earthquake struck at 7:58 a.m. local time, …

Nat Cats Cost Insurers $39.5B in 2016, Highest Level in 4 Years: Willis Re

Insured loss estimates from major natural catastrophes totaled US$39.5 billion during 2016, which is the highest level since 2012 when market losses totaled US$60 billion, according to a report published by Willis Re, the reinsurance division of Willis Towers Watson. …

Global Natural Catastrophes Cost Insurers $50B in 2016: Munich Re

Insurers paid out around $50 billion for natural disaster claims last year, almost double 2015’s payout of $27 billion, reinsurer Munich Re said in its annual natural catastrophe review on Wednesday. Earthquakes in Japan and devastating floods in China – …

Insured Cat Losses in 2016 Totaled $49B, with $158B of Economic Costs: Swiss Re

More than 10,000 people died as a result of natural and man-made disasters during 2016, with financial losses totaling at least $158 billion, Swiss Re said on Thursday. At an estimated $49 billion, insured losses rose by nearly a third …