OLYMPIA, Wash: The results of a report revealed Thurston County has the largest percentage of homeowners with
earthquake insurance in Washington state, and Columbia County the lowest.
More than seven times the usual number of Californians bought
earthquake insurance through the California Earthquake Authority in 2016.
According to the California Earthquake Authority, most Californians live within 30 miles of an active fault and are not covered by any type of
earthquake insurance.
Watching consumers contemplate
earthquake insurance can be a little like that for insurance professionals.
Regulators said that they were concerned with spiking rates for
earthquake insurance coverage and diminishing competition among insurers.
The California Earthquake Authority (CEA) has rolled out new options to help make
earthquake insurance more affordable and convenient for state residents.
Palomar Specialty Insurance Company is a recently established catastrophe insurer that has initially focused on writing residential
earthquake insurance, commercial
earthquake insurance and differences in conditions in earthquake-exposed states including California, Oregon and Washington.
Homeowners coverage and
earthquake insurance were profitable lines of business, making them prime targets for Insurance Commissioner Roxani Gillespie to seek rate cuts and refunds.
Most wineries don't have
earthquake insurance for their buildings, but many do insure their inventory.
Earthquake insurance in Japan is committed not only by private nonlife insurers But also by the Japanese government following devastating earthquakes such as the Hanshin-Awaji Earthquake in 1995 and the Great East Japan Earthquake in 2011.
Sales of
earthquake insurance policies by five major Japanese property and casualty insurance companies increased some 18 percent since March last year, when the devastating earthquake occurred in northeastern Japan, data compiled by Kyodo News showed Thursday.
Earthquake insurance claims in 2011 and 2010 are the first and third most costly years on record.
