Increase of earthquake insurance price

Insurers and financial authorities are discussing a 15% increase of earthquake insurance price. This option seems to be already considered and would reflect at best the occurrence of a major earthquake. This tariff change is due to come into effect in July 2014.
Some market professionals believe that this decision will not encourage consumers to underwrite new insurance covers. In an effort to encourage the Japanese to get insured, companies could, in return, augment discounts on construction providing increased resistance to earthquakes.

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