Catastrophe-risk modeler EQECAT has dramatically changed its estimate of insured losses from the Tohoku, Japan earthquake to between $22 billion and $39 billion.
Shortly after the March 11 earthquake EQECAT released an insured-loss estimate of between $12 billion and $25 billion.
EQECAT says the upward shift in estimating losses is due to several factors. First, water depths from the tsunami that followed the earthquake were thought to be eight meters (26 feet), but the depths were more than 25 meters (82 feet) and extended inland about 10 kilometers (nearly 6.25 miles).
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