Japan’s economic loss up to $300 billion
The Japanese earthquake and tsunami caused a total economic loss of up to $300 billion, about 5 percent of Japan's output, according to an initial estimate from risk modeling agency RMS, Reuters writes.
The total cost to the Japanese economy will be between $200 billion and $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.