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… the insured losses stemmed from geophysical events. Regarding the Great East Japan Earthquake, Munich Re stated: “Even without considering the consequences of the … is going down as another year of very tragic and costly earthquakes. Unfortunately earthquake insurance is still quite low, even in some industrialized countries with … which approximately $13 billion was insured. Christchurch was hit by 6.3 magnitude earthquake in February, 2011, just six months after being hit by an earthquake of 7.1 …