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A recent report by Aon Benfield's risk analytics unit Impact Forecasting L.L.C. said that the April quakes in Japan are expected to cause total economic losses of more than 1.12 trillion Japanese yen ($10 billion), reports Asia Insurance Review.
The General Insurance Association of Japan said that almost 70,000 nonlife insurance claims have been filed and insured losses are likely to exceed JPY 225 billion.
The report said that other natural disasters that hit Asia in April include heavy rainfall in China and floods in India.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms