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Insured losses from Japan's April 16 earthquake up to US$2.9b: AIR Worldwide
[LONDON] Insured property losses from the April 16 earthquake in Japan could total as much as US$2.9 billion, catastrophe modelling firm AIR Worldwide said on Thursday.
The death toll has reached 48 from last week's earthquakes in the Kumamoto area of southwestern Japan. The first quake hit late last Thursday and the largest, at magnitude 7.3, some 27 hours later.
AIR said the insurance losses on residential and commercial property could range from US$1.7 billion to US$2.9 billion.
It said its loss estimates did not include losses to land, infrastructure, cars, business interruption or workers'compensation.