Insured losses in Japan from Typhoon Hagibis could reach $US8-16 billion ($12-23 billion), catastrophe modeller Air Worldwide estimates.

More than half of the losses are likely to come from inland flooding after many regions received 30-40% of their annual rainfall in two days. More than 100 weather stations set daily records, while resort town Hakone received 939.5mm, breaking the calendar day high for all of Japan.

“Much of central and eastern Japan experienced severe flooding and landslides, power outages and travel disruption were widespread,” Air Worldwide says.

The high mud content and large amount of debris in floodwaters, due to the short, intense rainfall, could increase repair and clean-up costs and drive up business interruption losses, especially for commercial and industrial properties.

Numerous rivers experienced severe and devastating flooding.

Typhoon Hagibis affected some of the same region damaged a few weeks earlier by Typhoon Faxai, which Air Worldwide previously estimated could cause insured losses of $US3-$US7 billion ($4-10 billion). Additional damage to unrepaired properties may further complicate claims settlements.

The Chiba region of Japan, east of Tokyo, was again pounded by heavy rain on Friday, with evacuation orders issued for more than 80,000 people.

Typhoon Hagibis has killed at least 88 people, according to Japan’s NHK, while the flooding and mudslides in Chiba caused at least a further 10 fatalities.