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Japan insurers struggle to pinpoint climate change cost estimates

Calculating climate costs is no easy task even for Japanese insurers, armed with sophisticated models to predict the course and intensity of typhoons, and the damage they could cause

Climate Change | Japan | Insurers

Reuters  |  TOKYO 

By Leika Kihara and Takahiko Wada TOKYO (Reuters) - As the world tries to price the cost of climate change, Japan's second largest non-life insurer MS&AD foresees the potential rise in claim payments in 2050 to be anywhere between 5% to 50% from current levels. Sompo Holdings, the No. 3 non-life insurer, also plans to announce a similar estimate in August but with plenty of caveats, its officials say. Others, including industry leader Tokio Marine & Nichido Fire Insurance, are wary of even producing estimates, citing a lack of data. "We know our analysis isn't ...

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First Published: Fri, June 25 2021. 07:13 IST