Claims paid for Japan quake damages near $900 million

Data from the General Insurance Association of Japan showed that nearly $900 million has been paid in insured and reinsured losses for claims arising from the 7.0-magnitude earthquake, which jolted the Fukushima region in February, Artemis reported. The quake, which struck on Feb. 13, caused significant structural damage across the Kanto and Tohoku regions, and could potentially become a billion dollar loss event for the insurance and reinsurance industry.

Source: Business Insurance