A statewide average rate reduction of 10% on CEA-issued
earthquake insurance policies was approved in the spring by state Insurance Commissioner Dave Jones, and takes effect Jan.
The requirement is in response to a growing number of questions about
earthquake insurance.
Also, keep reading to learn more about protecting yourself financially with
earthquake insurance.
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.
Palomar Specialty Insurance Company, a specialty catastrophe insurer, is now certified to write residential and commercial insurance in 14 states and has earlier aimed on writing residential
earthquake insurance, commercial
earthquake insurance and difference in conditions (DIC) in earthquake-exposed states comprising California, Oregon and Washington.
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.
But it wouldn't hurt to check on
earthquake insurance and see how much it costs.
We will discuss ways to make our citizens more aware of the importance of joining the Pool by receiving Compulsory
Earthquake Insurance Policies, Babacan said.
The report said a small percentage of property owners acquire
earthquake insurance as a rider to regular property coverage.
Guillermo Franco, AIR senior engineer, said insured losses will be limited to the low penetration of
earthquake insurance in the region.
Environmental tax (collected through water utility bills) Corporation Tax (in the case of a commercial transaction of a company)
Earthquake insurance (a nationwide contribution rate is applied)
