Insured Losses from Noto Peninsula Earthquake in Japan Forcasts
Insured losses from the 7.6 magnitude earthquake that struck the Ishikawa prefecture on the Noto Peninsula, Japan, on 1 January 2024 are likely to be small
Earthquake insurance cover
Earthquake insurance cover is a specialized type of policy designed to protect homeowners and businesses from the financial impacts of earthquake damage. Unlike standard homeowners or commercial property insurance, which often excludes earthquake-related damages, this coverage specifically addresses repairs and replacement costs resulting from seismic events.
The policy typically includes coverage for structural damage to buildings, loss of personal property, and additional living expenses if the property becomes uninhabitable. It may also cover business interruptions for commercial properties. Earthquake insurance is essential in regions prone to seismic activity, offering peace of mind and financial protection against the unpredictable nature of earthquakes. Coverage limits, deductibles, and policy terms vary, so it’s crucial to review options carefully to ensure adequate protection tailored to individual needs and risk levels.
Global Natural Disasters Figures: $100 bn Insured Losses
2024 is a continuation of the recent run of years with high losses from natural disaster. While the overall losses of $120bn in 2023 were lower than those in 2022
Losses of Earthquakes in Turkey: Residential vs Commercial Insurance Claims & Premiums
The estimated insurance claims bill from the sequence of earthquakes that hit Turkey and Syria earlier in February appears to be growing
How Earthquakes in Turkey & Syria Impacts for Re/Insurance Industry?
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