With the scale of Japan’s destructive earthquake and tsunami becoming more apparent insurers have begun their calculations.
Although many of the worst hit areas are barely accessible, the US giant, AIG, which is very exposed in Asia, has set aside nearly a billion dollars.
Reinsurers, such as Swiss Re, have almost doubled that figure. Catasptrophe modeling companies believe the tragic events will result losses of between 12 and 35 billion euros.
Meanwhile, Tepco, operators of the stricken Fukushima plant, say they will be paying farmers for losses caused by nuclear radiation leaking.