RMS sees total Japan quake loss at up to $300b

The Japanese earthquake and tsunami caused a total economic loss of up to USD 300 billion, about 5% of Japan's output, according to an initial estimate from risk modelling agency RMS.

The total cost to the Japanese economy will be between USD 200 billion and USD 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.