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Kim Henshaw, chief executive of Strata Community Australia, has asked owners and firms responsible for strata properties in the nation's New South Wales state to be proactive with earthquake insurance coverage, reported Asia Insurance Review.
"Australia is a very active location for seismic events," Mr. Henshaw said. Mr. Henshaw added that thousands of buildings in the state may have inadequate earthquake insurance policies. Strata buildings with earthquake insurance would be automatically covered for damage caused by seismic events that are declared an earthquake by the Insurance Council of Australia, added Mr. Henshaw.