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Nuke Plant Begins Payouts to the Displaced

CNN reports the Japanese government has ordered the owners of the Fukushima Daiichi power plant to make a down payment compensating affected residents. About 146,000 people will be paid – anyone who has been displaced, ordered to shelter indoors or advised to leave.

The down payment will be the equivalent of about $12,000 per household, $9,000 for individuals.

The company reported profits of ~$17 billion last year. Dividing by 146,000, they could afford to pay each person more than $116,000 using last year’s profits alone.

I wonder how insurance companies are going to be maneuvering to get out of paying homeowners policies, etc., similar to what happened after Hurricane Katrina here.  I wonder if forced evacuation due to radiation (due to a plant destroyed by an earthquake and tsunami) is a covered cause under the usual policies…

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