The nation's 29 nonlife insurers are likely to pay a total of 30.4 billion yen for damages related to the Sept. 11 terrorist attacks in the United States, an industry association said Wednesday.
The Marine & Fire Insurance Association of Japan said the amount is based on damage estimates as of Monday.
On Sept. 20, the association said insurance payments for damages would be around 20 billion yen. But the amount swelled as the association increased estimates for claims stemming from business suspension due to the destruction of the World Trade Center in New York.
The impact of the insurance payments on the nonlife insurers, however, "will be limited," an official at the association said.