24 May 2013

Guchol to cost under $500mn

6 July 2012

Typhoon Guchol, which made landfall in Japan on 19 June, is expected to cost (re)insurers under $500mn, according to risk modelling firm Eqecat.

The typhoon was the fourth named storm and the first to officially reach super typhoon status, with initial wind speeds of150 mph.

However, it weakened to Category 1 status with winds of 81 mph by the time it made landfall in Japan's Higashimuro District in the Wakayama prefecture.

The Kinki and Tokai regions of Japan recorded rainfall...

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