Revealed – how many claims resulted from the 2024 Noto Peninsula Earthquake?

Report outlines areas with highest payments

Revealed – how many claims resulted from the 2024 Noto Peninsula Earthquake?

Catastrophe & Flood

By Roxanne Libatique

The General Insurance Association of Japan (GIAJ) has released statistics on the 2024 Noto Peninsula Earthquake, providing a detailed breakdown of insurance claims processed up to January 31, 2024.

The data encompasses claims from various prefectures, including Niigata, Toyama, Ishikawa, and Fukui, as well as other regions affected.

Noto Peninsula earthquake figures

According to the GIAJ, the total number of claims accepted from policyholders reached 76,497. These claims cover a range of requests, from investigations of damage to residential properties and belongings to consultations and inquiries regarding earthquake insurance coverage. The total number of investigations completed by the association and its member companies stood at 38,533.

The report also detailed the number of claim payments made, totalling 25,246 across the affected areas. The cumulative amount disbursed in claim payments amounted to approximately 20.53 billion yen.

Areas with the highest claim payments

Ishikawa Prefecture reported the highest number of claim payments, amounting to over 8 billion yen, followed by Toyama and Niigata Prefectures, with payments totalling approximately 6.49 billion yen and 5.25 billion yen, respectively.

Fukui Prefecture and other regions saw smalle amounts disbursed, with figures standing at around 351 million yen and 357 million yen.

The figures represent a collaborative effort between the GIAJ, the Foreign Non-Life Insurance Association of Japan, and other related entities.

The number of accepted claims reflects various types of assistance sought by policyholders, while the count of completed investigations illustrates the extent of claims processing undertaken in the wake of the disaster.

In January, Moody’s RMS predicted the total insured losses from the earthquake to be between JPY435 billion and JPY870 billion.

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