Earthquake insurance may disappear in face of continued risk: Munich Re
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Munich Reinsurance Co. warned that earthquake insurance coverage for commercial properties in New Zealand could disappear due to the country's heightened seismic risk, Stuff.co.nz reported. There was a danger investors would stop funding reinsurers because "the level of risk is too high for the return," which would limit the amount of coverage available for quake damage, said Scott Hawkins, general manager, nonlife at Munich Reinsurance Co. of Australasia Ltd.
