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International

Proposal to hike quake insurance premiums approved

June 26, 2015 Reprints

An advisory panel at Japan's finance ministry has approved a proposal to increase earthquake insurance premiums by 19% on average in stages from January 2017, reported The Japan Times citing Jiji Press.

The approval comes after the government raised the probability in late 2014 of a strong earthquake taking place directly underneath central Tokyo. Insurance premiums differ by prefecture and an increase of up to 30% is permitted currently.

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Proposal to hike quake insurance premiums approved

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