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Insured losses from 2 earthquakes in Japan less than $100M: EQECAT


OAKLAND, Calif.—Two earthquakes that struck portions of Japan on Wednesday probably will result in less than $100 million in insured losses, according to catastrophe modeler EQECAT Inc.

Oakland, Calif.-based EQECAT said the quakes—one offshore and the other east of Tokyo—were part of the continuing aftershocks from the earthquake that devastated part of northeastern Japan on March 11, 2011.

Wednesday’s quake near Tokyo caused Narita International Airport to suspend operations briefly for inspections.

EQECAT said late Wednesday that “no notable damage” had been reported from the quake near Tokyo.

“Likely losses will be characterized by minor damage to contents or architectural components such as ceilings or windows,” with the possibility of “isolated instances” of structural damage to older buildings, said EQECAT in its analysis.