Japan earthquake: estimated insured losses

A magnitude 7.6 earthquake struck the Noto peninsula in central Japan's Ishikawa prefecture on 1 January 2024. The death toll as of 10 January 2024 stood at 203, while 68 people are still missing. The disaster also caused extensive material damage.

Forecasts by Karen Clark & Company (KCC) suggest that the powerful tremor is likely to generate insured losses of up to 6.4 billion USD.

For its part, Corelogic, a risk modeling center, is expecting the insurance market to incur a cost ranging from 1 to 5 billion USD.

Verisk Analytics's estimates for insurers suggest a figure between 1.8 and 3 billion USD.