Earthquake insurance policy sales skyrocket

TOKYO (majirox news) — Sales of earthquake insurance premiums have skyrocketed in the wake of the March 11 disasters in the Tohoku Region, registering double-digit growth in April and May, according to the Non-Life Insurance Rating Organization of Japan (NLIRO) on Aug. 23.

Stricken Fukushima prefecture, bearing the brunt of the Fukushima Daiichi nuclear power plant meltdowns triggered by the huge earthquake and tsunami that devastated the region almost six months ago, saw rates of new earthquake insurance coverage increase almost threefold in May.

The NLIRO said other hard-hit areas also registered incredible growth in new policies in May, with Miyagi increasing by 81.4%, Iwate 61.4% and Ibaraki by 43.6%.

Tags: Fukushima prefecure, Japan earthquake, Tohoku Region

This entry was posted on 08/24/2011 at 5:10 pm and is filed under NEWS. You can follow any responses to this entry through the RSS 2.0 feed.