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Japan: Earthquake insurance premiums to rise 15.5% in July 2014

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Earthquake insurance premiums will increase by an average 15.5% in July 2014, reports The Japan Times citing Jiji Press.

After the 2011 Great East Japan Earthquake, a report by the Finance Ministry called for a review of the earthquake insurance system, and in March 2013, nonlife insurers informed the Financial Services Agency of their plans to increase seismic insurance premiums.

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