Japan Quake Insured Losses May Reach $34.2 Billion, AIR Says
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The insured property losses from the 8.9-magnitude earthquake that struck Japan on March 11 may be as much as 2.8 trillion yen ($34.2 billion), according to a preliminary estimate by disaster modeler AIR Worldwide.
The company used a variety of scenarios including a range from 8.9 to 9.1 in magnitude, a depth of between 15 kilometers (9 miles) and 30 kilometers and a rupture width of 100 kilometers to 150 kilometers, AIR said in an e-mailed statement.