Japan pays $610b claims from severe rain last year

This included heavy rainfall “Baiu” and Typhoon Mawar.

Japan’s General Insurance Association (GIAJ) paid a total of $280b (Y43.165t) claims to compensate for the heavy rainfall “Baiu” front and Typhoon Mawar from 1 to 3 June 2023.

The total number of claim payments tallied during this period was 31,552. Of the total, 37.6% were “coverage for damage to own vehicle”, 57.6% were “fire insurance”, and the remaining 4.7% were “miscellaneous casualty insurance including personal accident insurance”.

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On top of this, the heavy rainfall felt on 7 July 2023 accumulated a total of $330b (Y52.256t) in claim payments, with a volume of 27,143.

Similarly, 28.9% were “coverage for damage to own vehicle”, 66.7% were “fire insurance”, and 4.4% came from “miscellaneous casualty insurance including personal accident insurance”.

In total, the GIAJ paid a sum of 59,695 claims worth $610b (Y95.4t).