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(From Reinsurance)
Byline: Jeremy Golden.
The torrential rain that hit the main southern island of Kyushu in July this year was a stark reminder of Japan's vulnerability to natural disasters. In the same month, a series of tremors culminated in a massive earthquake in the north-east of the country. The last earthquake struck on 26 July in Miyagi Prefecture and left more than 400 people injured, but fortunately this time no fatalities were reported.
According to the General Insurance Association of Japan (GIAJ), as a result of the torrential rains, its member companies have made the largest aggregated amount of payouts to cover fire insurance ...