Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks. Risk modeling agency …
Another Strong Earthquake Shakes Japan’s Ruined Northeast Coast A strong earthquake of magnitude 7.4 shook the northeast of Japan late on Thursday, and a tsunami warning was issued for the coast already devastated by last month’s massive quake and the …
Michael Korn is a popular person these days, which is perhaps not too surprising considering what he does for a living and where he lives. Korn is an insurance broker in earthquake-prone San Francisco. “We’re pretty busy,” he said of …
XL Group plc announced that its preliminary net loss estimates for the March 11, 2011 earthquake and tsunami in Japan, pretax and net of reinsurance and reinstatement premiums, “range from approximately $190 million to $290 million, with approximately 70 percent …
California’s damage estimate from last month’s tsunami has increased. California Emergency Management Agency spokesman Brad Alexander said the most recent damage estimate was $48 million, $4 million more than a previous estimate. Meanwhile, Alexander tells The Times-Standard of Eureka, Calif., …
Japan’s government expects last month’s earthquake and tsunami to cost up to $300 billion in material damage, but the ultimate cost will be far higher. Tokyo Electric Power Co (TEPCO), operator of the crippled Fukushima nuclear power plant, could leave …
Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, forecasting the insurance industry will have to pay out $20 billion to $30 billion in claims. That estimate, issued late Thursday night, compares …
Oregon’s governor has asked President Barack Obama to issue a disaster declaration for a coastal county ravaged by a tsunami this month. Gov. John Kitzhaber made the request for Curry County on the state’s southern coast after disaster teams estimated …
