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Japan earthquake estimated to cost insurers $6.4 billion
Insured losses from the Japan earthquake are estimated to reach $6.4 billion, according to catastrophe modeling firm Karen Clark & Co .
Residential properties account for over two-thirds of the total losses, as commercial and industrial buildings are more seismic-resistant due to steel construction.
The earthquake struck the Noto peninsula, resulting in flattened homes, a tsunami, and isolated communities.