English | 简体中文 | 繁體中文 | 한국어
Share:
AIR Worldwide Estimates Industry Insured Losses for Typhoon Jebi Will be Between JPY 257 billion (USD 2.3 billion) and JPY 502 billion (USD 4.5 billion)
AIR Worldwide Estimates Industry Insured Losses for Typhoon Jebi Will be Between JPY 257 billion (USD 2.3 billion) and JPY 502 billion (USD 4.5 billion)

For Immediate Release:

AIR Worldwide Estimates Industry Insured Losses for Typhoon Jebi Will be Between JPY 257 billion (USD 2.3 billion) and JPY 502 billion (USD 4.5 billion)

BOSTON, Sept. 9, 2018 - Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoo Jebi, which made landfall in Japan on September 4, will be between JPY 257 billion (USD 2.3 billion) and JPY 502 billion (USD 4.5 billion). AIR Worldwide is a Verisk (Nasdaq:VRSK) business.

Typhoon Jebi, which struck Japan midday on September 4 on the island of Shikoku at the equivalent of a Category 3 hurricane, was the strongest typhoon to make landfall in Japan in 25 years, with 1-minute sustained wind speeds of 180 km/h (112 mph). It rapidly made a second landfall on the main island of Honshu striking the major urban centers of Kobe and Osaka with winds which, flipped vehicles, ripped cladding off buildings, and downed trees and power lines.

Four days before landfall, Jebi explosively intensified to become a super typhoon with wind gusts of over 190 mph, the equivalent of a Category 5 hurricane. As it headed north toward Japan, Jebi encountered wind shear and cooler water, which caused it to lose some strength but it was still an intense and potentially dangerous storm as it approached Japan. The ground was still saturated from previous storms as Jebi drew close, prompting the Japan Meteorological Agency (JMA) to issue warnings for potential flash floods and landslides.

Storm surge inundated parts of Osaka Prefecture, with a potentially record-breaking storm tide reported in that area and intense rainfall accompanied the storm, with a recorded rate of 100 mm (3.9 inches) of rain in an hour at the tourist city of Kyoto, and more than 500 millimeters (nearly 20 inches) of rain total was measured in some areas. The storm maintained its typhoon strength over the Sea of Japan as it tracked north along the coast, only weakening to tropical storm intensity early Wednesday, local time, as it passed the island of Hokkaido. Wind and torrential precipitation continued to affect the western coast up to Hokkaido overnight.

Along with major damage to buildings and infrastructure, there has been significant business interruption, particularly to manufacturing and tourism, with widespread shipping and transportation impacts. Kansai Airport plays a significant shipping role in the region, and the closure could disrupt supply chains.

AIR's modeled insured loss estimates include:

  • Insured damage to property (residential, commercial, industrial, and agricultural/mutual), both structures and their contents, and automobile

AIR's modeled insured loss estimates do not include:

  • Losses from precipitation-induced flood
  • Landslide
  • Losses to land
  • Losses to infrastructure
  • Losses to CAR/EAR, marine hull, or marine cargo lines of business
  • Business interruption losses
  • Loss adjustment expenses
  • Demand surge-the increase in costs of materials, services, and labor due to increased demand following a catastrophic event

About AIR Worldwide
AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR's advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.

###

For more information, contact:
Kevin Long
AIR Worldwide
617-267-6645
[email protected]





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AIR Worldwide via Globenewswire

Copyright © Thomson Reuters 2019. All rights reserved.
Press Releases
AMG Advanced Metallurgical Group N.V. Announces Weekly Share Repurchase Program Transaction Details  
Apr 19, 2019 21:00 ET
SDLP - Seadrill Partners LLC receives early termination notice for the West Capricorn contract  
Apr 18, 2019 13:29 ET
CF&B Communication : Copenhagen May 16, 2019 - 30 listed companies, 40 institutional investors in One-to-One  
Apr 18, 2019 10:21 ET
Invitation to UPM's webcast and press conference on first quarter 2019 results  
Apr 18, 2019 09:00 ET
Nokia provides recast comparative segment results and additional financial disclosures for 2018 reflecting the new financial reporting structure  
Apr 18, 2019 08:01 ET
Lubrizol to Feature New Bio TPU Grades for 3D Printing and Molded Parts at Plastteknik Fair 2019  
Apr 17, 2019 22:59 ET
JCPenney Names New Principal Accounting Officer and Announces Key Strategic Executive Appointments  
Apr 17, 2019 19:59 ET
Lubrizol is Ready for ILSAC GF-6 - Announcing Lubrizol® PV1510 Additive Technology for the GF-6 Specification  
Apr 16, 2019 03:59 ET
JANET BAWCOM JOINS INGREDION AS GENERAL COUNSEL AND CORPORATE SECRETARY  
Apr 15, 2019 22:29 ET
Lubrizol Showcases Renewable-Sourced Estane® 3D ECO TPU for 3D Printing at RAPID + TCT 2019  
Apr 12, 2019 20:29 ET
More News >>
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: