Europe insurers ’will escape Japan claims’

Carlos Montalvo, executive director of the European Insurance and Occupational Pensions Authority (EIOPA), on Thursday told a committee of the European Parliament that most of the risk associated with the disaster is likely to be absorbed by "Japanese companies and by the Japanese government". "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," he said.