Insured losses from typhoon Jebi will be between $2.3bn and $4.5bn, according to AIR Worldwide.
The storm hit southern Japan on 4 September with wind speeds equivalent to a category 3 hurricane, the catastrophe modelling firm reported. Major damage was inflicted on buildings and infrastructure, while there has been significant business interruption, particularly to manufacturing and tourism, with widespread shipping and transportation impacts.
Jebi made landfall on the island of Shikoku and then moved to the main island of Honshu, striking the urban areas of Kobe and Osaka. The fierce winds flipped cars, ripped cladding off buildings, and downed trees and power lines.
Storm surge inundated parts of Osaka prefecture, with a potentially record-breaking storm tide reported in that area. 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.
AIR Worldwide’s estimated losses include insured damage to property (residential, commercial, industrial, and agricultural/mutual), both structures and their contents, and automobile.
The losses exclude those caused by precipitation-induced flood, losses to infrastructure, marine hull and cargo, and losses arising from business interruption. They also exclude loss adjustment expenses and the effect of demand surge – the increase in costs of materials and labour following a catastrophic event.
Companies:AIR Worldwide
