The official figure of damage in the earthquake resulting from tsunami and aftershocks in Japan (March 11) has not been declared. On March 23, the Cabinet Office of Japan estimated $309bn overall losses while World Bank offered its reach at $239bn. Furthermore, it’s necessary to keep an eye on insurance company’s role in aftershocks. Robert Hartwig, president of the Insurance Information Institute said: “Prior to today's earthquake, insured earthquake losses worldwide, dating back to February 2010, totaled an estimated $23 billon."
Newscastle, Australia, 1989
Overall losses: $1.2bn
Insured losses: $670ml
The earthquake in 1989, Newscastle, was 5.6 on the Richter, killed 13 and injured 160 residents. It was estimated that the earthquake tallied $1 billion in insured losses, but the exactly figure is $670 million.
In report of the government, this is one of the worst natural disaster in Australia.
Nantou, Taiwan, 1999
Overall losses: $14bn
Insured losses: $750ml
Severe results in the earthquake in September 1999 were nearly 2,400 fatalities and 100,000 homeless, over 50,000 destroyed buildings.
Niigata, Japan, 2004
Overall losses: $28bn
Insured losses: $760ml
This earthquake occurred near the western coast of Japan, Niigata, in October 2004, causing at least 33 deaths and injuring roughly 2,900 people.
Loma Prieta, California , 1989
Overall losses: $10bn
Insured losses: $960ml
Magnitude 6.9 earthquake struck San Francisco and Oakland leading to 63 fatalities. Furthermore, the Pacific plate moved 2 km to North West.
Indian Ocean, 2004
Overall losses: $10bn
Insured losses: $1bn
Magnitude 9.1 quake on December 26 2004 triggered a series of tsunami waves nearly 30m in height over Indian Ocean, which killed 227,898 people in Asia, and East Africa.
So far this is the disaster killing most people in "modern history".
Kobe, Japan, 1995
Overall losses: $100bn
Insured losses: $3bn
The damage focused on Kobe, Japan in n Jannuary, 1995. Nearly 6,400 people lost their lives in this earthquake.
Canterbury, New Zealand, 2010
Overall losses: $6.5bn
Insured losses: $5bn
Earthquake Canterbury in 2010, 7.1 Richter on scale. Two residents were injured.
Christchurch, New Zealand, 2010
Overall losses: $20bn
Insured losses: $10bn
This is an aftershock of Canterbury quake in Feb 2010. It beat Canterbury in terms of destruction, leading to 166 fatalities.
Northridge, California, 1994
Overall losses: $44bn
Insured losses: $15.3bn
On January 17 1994, a 6.7 earthquake hit San Fernando Valley, northern of Los Angeles city (California), led to 60 dead and over 7,000 injured.
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