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RMS sees total Japan quake loss at up to ${esc.dollar}300 bln

by (c) Copyright Thomson Reuters 2011. Click For Restrictions. http://about.reuters.com/fulllegal.asp | Thomson Reuters Foundation
Monday, 21 March 2011 14:02 GMT

* Sees total economic loss of between ${esc.dollar}200 bln and ${esc.dollar}300 bln

* Insurers to bear "minor proportion" of total

(Adds detail)

LONDON, March 21 (Reuters) - The Japanese earthquake and tsunami caused a total economic loss of up to ${esc.dollar}300 billion, about 5 percent of Japan's output, according to an initial estimate from risk modelling agency RMS.

The total cost to the Japanese economy will be between ${esc.dollar}200 billion and ${esc.dollar}300 billion, RMS said on Monday.

RMS added that only a "minor proportion" of this would be covered by insurance, although it was still too soon to assess the total insured loss.

The estimate from RMS comprises losses resulting from the earthquake and the tsunami it triggered, including the impact of power supply disruption and the cost of decommissioning nuclear power stations.

(Reporting by Myles Neligan; Editing by Sudip Kar-Gupta)

Our Standards: The Thomson Reuters Trust Principles.

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