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AIR Worldwide: Industry insured losses from Jebi could top ¥500B

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AIR Worldwide: Industry insured losses from Jebi could top ¥500B

Industry insured losses from the typhoon that struck Japan on Sept. 4 are expected to be between ¥257 billion and ¥502 billion, according to catastrophe risk modeling firm AIR Worldwide.

Typhoon Jebi hit the island of Shikoku at the equivalent of a Category 3 hurricane. It made a second landfall on the main island of Honshu, leaving flipped vehicles, ripped cladding off buildings, and downed trees and power lines in its wake.

AIR Worldwide is a Verisk Analytics Inc. business.

As of Sept. 7, US$1 was equivalent to ¥111.16.