European insurers should avoid Japan disaster claims

European insurers should avoid Japanese disaster claims, according to reports in the Telegraph.

The European Parliament heard that the risk is likely to be picked up by Japanese companies and the Japanese government, according to European Insurance and Occupational Pensions Authority executive director Carlos Montalvo.

Montalvo added: "From a European viewpoint, the impact is not severe, it is under control and there will be no problem for European insurers or for European insurance solvency.”