JAPANESE EARTHQUAKE DAMAGES FOR BIGGEST IN HISTORY

Up to 1 week after the earthquake and tsunami disaster in Japan, losses due to this tragedy can not be calculated with certainty, but few analysts risk of disaster from some insurance companies estimate the losses suffered by the earthquake and tsunami in Japan will reach the largest number in history.

Some American companies risk analysis is currently being started counting the number of losses experienced as a result of the earthquake and tsunami in Japan.

According to Eqecat, material loss suffered by the earthquake, tsunami and fire is estimated at 100 billion U.S. dollars (about 8.2 trillion yen or about 900 trillion rupiah) including losses due to damage to the house to reach 20 billion U.S. dollars (about 1.6 trillion yen or about 180 trillion rupiah) and losses due to damage to infrastructure such as roads, railroads and ports reached 40 billion U.S. dollars (about 3.2 trillion yen or about 350 trillion rupiah).

According to AIR Worldwide Corporation, total insured losses reached about 15-35 billion U.S. dollars (about 1.23 to 2.87 trillion yen, or about 135-315 trillion rupiah). This value is only taken from the losses caused by the earthquake alone, not including losses due to tsunami and damage to nuclear power plants in Fukushima. According to the company, in Japan only a few people who take out insurance for earthquake disaster, only about 14-17% only. Thus, the actual loss figure will be much greater than 35 billion U.S. dollars.

According to the U.S. Insurance Information Institute, the great Hanshin earthquake losses that occurred in Kobe, Japan in 1995 reached 100 billion U.S. dollars (about 8.2 trillion yen or about 900 trillion rupiah) is the largest ever. However, record protected by the insurance losses are losses due to the Northridge earthquake in California, United States that occurred in 1994 amounted to 22.7 billion U.S. dollars (approximately 1.8614 trillion yen, or about 204 trillion rupiah). But the earthquake and tsunami in Japan this time is expected to exceed both the record both the total number of losses and the total amount of insured losses.

Posted in: Japan Earthquake And Tsunami