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NEWARK, Calif. - May 11, 2016  RMS, a global catastrophe risk management firm, estimates that insured losses for the moment magnitude (Mw) 7.0 earthquake in Japan’s Kumamoto Prefecture on April 15 to be between US$800 million and $1.2 billion. The RMS insurance loss estimate is based on assumed insurance penetration rates and includes insured physical damage to property due to ground-shaking, fire following earthquake and liquefaction.

RMS has also updated its economic damage estimate for the April 15 Mw7.0 Japan earthquake and the earlier April 14 Mw6.4 earthquake to between US$5.5 and $7.5 billion.

Renee Lee, senior earthquake engineer at RMS, said: “The updated economic damage estimate reflects the evolution of the building damage statistics from the April 14 and 15 events, detailed data gathered through reconnaissance by RMS engineers and scientists, and revisions to the US Geological Survey ShakeMap. Our understanding of the events in Kumamoto takes into account this new information.”

The RMS economic and industry damage estimates do not include business interruption or alternative living expense impacts, damage to infrastructure, damage to Kumamoto Castle, land damage, workers’ compensation, post-event loss amplification such as economic demand surge and price increases, marine and cargo assets, or auto.

Note for editors

RMS released its insured loss estimate and revised economic damage estimate to its clients on May 3.

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About RMS

Risk Management Solutions, Inc. (RMS) helps insurers, financial markets, corporations, and public agencies evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

RMS leads the catastrophe risk industry that we helped to pioneer by marrying data and advanced model science with leading-edge technology. Leaders across multiple industries can address the risks of tomorrow through RMS Risk Intelligence™, our open, real-time exposure and risk management platform, enabling them to tap into RMS HD models, rich data layers, intuitive applications and APIs that simply integrate into existing enterprise systems.

RMS is a trusted solutions partner enabling effective risk management for better business decision making across underwriting, risk selection, mitigation, and portfolio management.

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Media Contacts

Matthew Longbottom

PR Lead, EU and APAC
+44 20 7444 7706 prteam@rms.com

Devonne Cusi

PR Lead, Americas
+1 551 226 1604 prteam@rms.com
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