Insurance payouts surged following the 2024 Noto Peninsula Earthquake, typhoons, and hailstorms, with Ishikawa Prefecture receiving the largest share.
Disasters Drive Major Insurance Payouts in 2024
Japan’s insurers paid out a total of $730 million (¥104.8 billion) in claims for major natural disasters in 2024, according to the General Insurance Association of Japan. These included the Noto Peninsula Earthquake, typhoons, windstorms, and floods.
Earthquake Claims Dominate Payouts
The Noto Peninsula Earthquake on January 1, 2024, led to 179,245 accepted claims. Out of these, 126,698 claims were settled. Ishikawa Prefecture, the most affected area, accounted for $400 million (¥57.6 billion) across 59,948 claims. Toyama received $170 million (¥23.6 billion), and Niigata received $130 million (¥17.9 billion). Fukui and surrounding regions accounted for $40 million (¥5.6 billion).
Hailstorm Hits Hyogo with $950M in Claims
A severe hailstorm on April 16, 2024, impacted Hyogo Prefecture and nearby areas. Insurers paid out $950 million (¥136 billion) in response to 149,612 claims. Vehicle damage made up the largest portion at $590 million (¥83.52 billion), while fire insurance claims reached $360 million (¥51.90 billion). An additional $3.8 million (¥539 million) was paid under miscellaneous casualty policies.
Typhoon Shanshan Adds $380M in Losses
Typhoon No. 10, also known as Shanshan, affected Japan from August 28 to September 1, 2024. It triggered 77,469 insurance claims worth $380 million (¥54.91 billion). Vehicle damage claims amounted to $36 million (¥5.17 billion), while fire insurance payouts totaled $330 million (¥47.13 billion). Other casualty-related payments were $18 million (¥2.61 billion).
Conclusion
Japan’s insurers faced a heavy financial burden in 2024 due to multiple natural disasters. The high number of claims reflects the growing impact of extreme weather and seismic activity. The data highlights the importance of robust disaster insurance to support recovery efforts across affected regions.
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