Japan: July floods could cause losses of tens of millions of dollars
Source: Asia Insurance Review | Aug 2023
The total economic and insured losses from the flash flooding this month on the Japanese islands of Honshu and Kyushu can potentially reach tens of millions of dollars, said Aon.
Heavy rainfall, on 1-4 July, resulted in flash flooding. The severe flooding left at least one person dead, several more missing, dozens of injured, and forced evacuations of about 360,000 people. Notable property and infrastructure damage was incurred.
Event details
Western Honshu and southern Kyushu were particularly affected by heavy rainfall and flooding. One of the hardest-hit prefectures was Kumamoto, where several rivers exceeded flood risk level on 3 July, forcing evacuations of about 360,000 residents in the region. According to the local Fire and Disaster Management Agency, hundreds of houses were inundated or suffered damage in Yamaguchi Prefecture. Thousands of customers experienced power outages.
Historical context
Japan has experienced severe flooding in the past. One of the costliest flooding events of recent years occurred in 2018; this was also the deadliest year on record since 1982, with more than 240 fatalities. Another costly flood hit Kyushu in July 2020. Flooding causes yearly economic losses of about $3.2bn, based on the 2000-2022 average, making the peril the third costliest for the country, only behind losses caused by earthquakes and tropical cyclones. A