Japan earthquake: claims cost

As at 31 March 2024, Japanese insurers had settled 81 544 claims for damage caused by the earthquake that struck Japan on 1 January 2024. The losses amounted to 74.422 billion JPY (478 million USD).

According to the General Insurance Association of Japan (GIAJ), this amount is set to go up even higher, as insurance companies have agreed to settle 128 263 claims.

For the record, the Noto peninsula, located in Ishikawa Prefecture in central Japan, was struck by a magnitude 7.6 earthquake on 1 January 2024.

The disaster resulted in extensive property damage and claimed more than 200 lives.