Japan Earthquake-Tsunami caused insurance losses of $ 25 Billion

Natural disasters earthquakes which cause a tsunami in Japan last weekend has caused insurance losses approximately $12 - $25 billion.
Risk appraisal company, EQECAT said an earthquake of 9.0 magnitude that hit Japan and the tsunami has made significant losses for the insurance industry. "EQECAT estimate of insured losses of $12 - $25 billion," the company said.

"This is the estimated loss includes the impact of earthquakes, tsunamis and fires, and losses for automobiles, marine life, and personal accident insurance," he added.

But the estimated losses, it does not take into account the nuclear crisis that is now developing. The Japanese government is now racing to prevent a bigger disaster due to this nuclear, "This estimate does not take into account the losses associated with nuclear emergency that is currently happening in the power plants in the country," he said.

EQECAT estimates that between $2,0 billion to $4,0 billion of losses expected to be borne by the Japanese government from Earthquake Re-insurance.