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RMS: Economic Losses from Japan Quake, Tsunami Could Reach $300 Billion

Posted on 21 Mar 2011

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Catastrophe modeler Risk Management Solutions Inc. said Monday that economic losses from the earthquake and tsunami that struck Japan likely will be $200 billion to $300 billion.

Although it was still too soon to assess the total insured loss, RMS added that only a "minor proportion" of this would be covered by insurance.

The estimate from RMS comprises losses resulting from the earthquake and the tsunami it triggered, including the impact of power supply disruption and the cost of decommissioning nuclear power stations.