Large quake in Tokyo could cause up to $3 trillion in losses

Source: Business Insurance

August 28, 2019 U.S.-based Karen Clark & Co. said that a large earthquake with a magnitude higher than the 1923 Kanto temblor could cause up to $3 trillion in property losses in the Tokyo region, reports. The catastrophe risk modeler said that insurance and reinsurance currently cover about 15% of Japan’s total earthquake loss potential.