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Japan typhoon losses no more than $500M: AIR


BOSTON--A typhoon that struck the southern Japanese island of Kyushu on Thursday should result in insured losses of no more than $500 million, AIR Worldwide Corp. projected.

Typhoon Usagi was the fifth named storm of the 2007 western Pacific cyclone season, noted Peter Sousounis, senior research scientist, in a statement concerning the storm's impact. He noted that Usagi canceled 140 flights and cut power to 28,000 households.

"Usagi's winds have reportedly damaged cladding and scattered roof tiles," said Mr. Sousounis. "Heavy rain associated with the storm intensified upon landfall, and up to 14 inches of precipitation are expected in some areas of southeastern Japan, according to the Japan Meteorological Agency. Thousands of people have been advised to evacuate in advance of more flooding to come."

AIR is a Boston-based unit of the Insurance Services Office Inc.