In Japan, New Zealand, and other earthquake-prone countries and regions, in view of the catastrophic earthquake insurance system are better. The New Zealand earthquake insurance system known as the world's most successful operation of the existing insurance system for disasters of earthquake risk to the system includes three parts: the earthquake, insurance companies and insurance associations.
Earthquake Commission is responsible for the statutory compensation insurance, housing a maximum liability limit of 10 million New Zealand dollars, the highest-room property liability limits for the 20,000 New Zealand dollars, according to the insurance company responsible for insurance contracts that exceed the statutory responsibility of the insurance part of the damages, insurance associations to start the Contingency plans.
Among them, the accumulation of the catastrophic earthquake risk funds mainly come from the mandatory levy premiums and investment funds in the market in the benefits. In addition to catastrophic risk fund, the earthquake also used three levels of the international reinsurance market risk dispersion. If the earthquake paid 200 million Singapore dollars irreparable loss, then start re-insurance programmes; amount of the loss if more than 2.05 billion Singapore dollars, from catastrophic risk fund to run out; still inadequate, the burden on the remaining claims by the Government to pay.
U.S. earthquake-prone California to set up an equally by the insurance companies to participate freely in and financed by public institutions to manage the California Earthquake Authority. In addition to members of the insurance company charges, the California Earthquake Authority also approved loans, reinsurance, investment and other ways to raise funds and do not pay federal income tax. It is understood that the California Earthquake Authority for a maximum amount of 8 billion U.S. dollars in insurance payments. In accordance with the law, the California earthquake can not be declared bankrupt, if a major earthquake disaster and the lack of assets, between the flat rates for policy holders.
Earthquake Commission is responsible for the statutory compensation insurance, housing a maximum liability limit of 10 million New Zealand dollars, the highest-room property liability limits for the 20,000 New Zealand dollars, according to the insurance company responsible for insurance contracts that exceed the statutory responsibility of the insurance part of the damages, insurance associations to start the Contingency plans.
Among them, the accumulation of the catastrophic earthquake risk funds mainly come from the mandatory levy premiums and investment funds in the market in the benefits. In addition to catastrophic risk fund, the earthquake also used three levels of the international reinsurance market risk dispersion. If the earthquake paid 200 million Singapore dollars irreparable loss, then start re-insurance programmes; amount of the loss if more than 2.05 billion Singapore dollars, from catastrophic risk fund to run out; still inadequate, the burden on the remaining claims by the Government to pay.
U.S. earthquake-prone California to set up an equally by the insurance companies to participate freely in and financed by public institutions to manage the California Earthquake Authority. In addition to members of the insurance company charges, the California Earthquake Authority also approved loans, reinsurance, investment and other ways to raise funds and do not pay federal income tax. It is understood that the California Earthquake Authority for a maximum amount of 8 billion U.S. dollars in insurance payments. In accordance with the law, the California earthquake can not be declared bankrupt, if a major earthquake disaster and the lack of assets, between the flat rates for policy holders.
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