• 2010 record year for economic costs from disasters

    On Tuesday the Swiss insurance giant Swiss Re, released a study that found disasters in 2010 caused more than three times as much economic damage as 2009; last year disasters caused more than $218 billion in economic losses, the most in over thirty years; in 2010, insured losses totaled $48 billion, an increase of 60 percent from 2009; 2011 is on track to surpass 2010 as the costliest year, with massive earthquakes in Japan and New Zealand; the Japanese government estimates that the 9.0 magnitude earthquake and tsunami caused as much as $309 billion in damages

  • Japan's disaster draws attention to little-known U.S. nuclear insurance plan

    A little-known insurance pool in the United States that would provide insurance coverage for victims of nuclear reactor accidents occurring in the United States; the pool has been around for decades; Created under the Price-Anderson Nuclear Industries Indemnity Act of 1957 (Price-Anderson), the pool provides general liability insurance

  • DisastersJapan widens evacuation radius

    Japanese officials have enlarged the evacuation zone around the Fukushima Daiichi power plant, as workers continue their struggle to repair the damaged nuclear reactors; last Friday a “voluntary evacuation” of people still living within nineteen miles of the plant was issued; residents within nineteen miles have remained indoors unable to leave their homes to purchase basic supplies and companies have refused to deliver; the voluntary evacuation could add an even greater strain to existing temporary shelters; currently 242,881 people are still living in shelters around the country and officials are struggling to provide enough basic supplies like food, water, and sanitary goods