Annual Report 2011

The Great East Japan Earthquake and Zenkyoren’s ResponseHelicopter emergency medical servicesLoss assessmentThe Great East Japan Earthquake of March 11, 2011 was one of the largest earthquakes in Japan’s recorded history and one that directly impacted many of our members and customers. Immediately after the disaster struck, Zenkyoren sprang into action, establishing a Disaster Countermeasures Headquarters with the aim of doing all that we could to expedite the payment of insurance claims to our affected members and customers. Our insurance assessors were organized and dispatched from all over Japan to sweep through the disaster area and assess damages. And we worked as one in cooperation with JA in the affected area to pay out the insurance claims promptly.Moreover, we were fully prepared for this contingency. Zenkyoren had long been provisioning catastrophe reserves and reinsurance in ample preparation against risk of a major natural disaster. The funds were secure for servicing claims and our financial position after coverage for the earthquake and tsunami remains strong.An Overview of the Great East Japan EarthquakeDate:March 11, 2011, 2:46 p.m.Epicenter:Offshore, along the Pacific coast of primarily Iwate, Miyagi and Fukushima PrefecturesLat. 38° 6’ 12” N.Long. 142° 51’ 36” E.Depth 24 km below sea levelSize: Magnitude 9.0 on the Richter scaleZenkyoren’s Claims Paid (as of the end of July 2011)NumberAmount Building endowment insurance356,092¥570.8 billionLife insurance1,371¥ 21.4 billionOther types of insurance563¥  2.5 billionZenkyoren’s Immediate Response to the DisasterDisaster Countermeasure Headquarters established 3:30 p.m., March 11, 2011•Prompt assessment of insurance policy-covered damage•Establishment of a claims assessment organization, and the provision and deployment of personnel•Claims processing and gathering other information for the paymentMain extraordinary measures of service to policyholders•Grace period extension on premiums due from policyholders affected by the disaster•Simplified filing procedures for the prompt payment of insurance claims, benefits and policy-backed loans•Special interest rates on policy-backed loans to disaster victims•The provision of 93,640 roof patching sheets free of charge for shelter against rain and coldOrganization for sweeping damage assessments:This is an organization in preparedness of a major natural disaster, and involves Zenkyoren staff from all over Japan registered as expert property damage assessors. The aim of the organization is to make sweeping damage assessments and expedite the payment of insurance claims in the event of a catastrophe.10 ANNUAL REPORT 2011