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Typhoon Jebi's insurance tab doubles to $12 billion

Aftermath of Typhoon Jebi

Typhoon Jebi is expected to cause about $12 billion in insured losses, more than double the initial estimates of risk modeling firms, reports citing sources. Typhoon Jebi is the main driver of higher reinsurance rates at the April renewals in Japan, the sources said. The August 2018 storm is the costliest typhoon to ever hit Japan.

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