Noto earthquake hit 22,000 homes, loss estimate still at $6b

The losses covered damages from secondary impacts such as fire, tsunami, landslide, and liquefaction-induced ground movement.

As of January 17, the earthquake in Ishikawa Prefecture, Japan, has resulted in significant devastation, with over 22,000 homes damaged and more than 15,000 either partially or destroyed, according to a research summary by WTW.

The death toll stands at 232, with over 1,100 reported injuries and 20 individuals still missing. Estimated losses in the insurance industry amount to JPY870b ($6b), covering damages from secondary impacts such as fire, tsunami, landslide, and liquefaction-induced ground movement.

The earthquake, with a moment magnitude of Mw7.5, struck on 1 January, along a reverse fault at a depth of 10km. The epicentre was 7 km northwest of Suzu and 30 km northeast of Wajima on the Noto Peninsula. 

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A seismic swarm leading up to the event was recorded in November 2020, with more than 20,000 earthquakes reported.

Tsunami warnings were issued due to the coastal location, and waves reaching heights of 1.2m were observed near Wajima. The quake caused extensive damage, including widespread landslides and liquefaction in coastal areas. 

The combined impact of earthquake shaking and tsunami waves damaged over 22,000 homes and caused more than 15,000 to be partially or destroyed. 

Secondary perils, such as fires and landslides, further contributed to infrastructure damage. The situation remains dynamic, and ongoing assessments may reveal additional losses not initially considered in early estimates.