RMS puts economic losses from Japan disaster at USD$200-$300 billion


Risk Management Solutions has issued an estimate for the economic losses resulting from the disaster in Japan on the 11th of March. Their estimate includes the earthquake, tsunami, disruption to power supplies, evacuations and the ongoing issues relating to the crippled Fukushima Daiichi nuclear power plant.

Overall RMS puts the economic loss from these events in the range of $200 billion to $300 billion. This estimate includes damage to property and infrastructure, costs from business interruption and a reduction in agricultural and manufacturing outputs. The huge economic cost is equivalent to 4% to 5% of Japanese GDP.

RMS says it is still too early to estimate the total insured losses from the events due to uncertainties that still exist but they do say that only a minor proportion of the economic losses will be covered by insurance.

Artemis London 2022 - Insurance-linked securities conference in LondonRegister to attend Artemis London 2022, our first ILS conference in London. Sept 6th, 2022.

Tickets are now on sale.

Secure your place at the event here!

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.