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International

Quake insurance protection gap pegged at $25 billion

March 12, 2021 Reprints

Swiss Reinsurance Co. Ltd. has estimated Japan’s insurance protection gap for earthquake risk at $25 billion, Reinsurance News reported. Although insurance penetration for seismic risks has increased in Japan after the Great East Japan Earthquake in 2011, underinsurance of earthquake risk still makes for the most of natural catastrophe protection gap in Japan, with a majority of companies still lacking coverage.

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Quake insurance protection gap pegged at $25 billion

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