Swiss Re: Global Earthquake Risk 'Vastly Underinsured'

Countries prone to earthquakes, especially Japan, remain underinsured, reveals a new report from Swiss Re.

By Chad Hemenway | January 17, 2012 at 08:16 AM

NU Online News Service, Jan. 17, 1:16 p.m. EST

Countries prone to earthquakes remain underinsured, reveals a new report from Swiss Re.

The insurance industry's contribution to rebuilding efforts differs dramatically from country to country. For example, about 80% of economic losses in New Zealand are covered by insurance but as little as 12 percent of economic losses from Japan are covered, according to Swiss Re report, "Lessons from Recent Major Earthquakes."

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