No. of new earthquake insurance policies up 7.3%
According to the Non-Life Insurance Rating Organization of Japan (NLIRO), the number of new earthquake insurance policies in 2011 increased by 7.3% from the year before to 9,335,873 policies.
In addition, the number of contracts on residential properties in force at the end of the 2011 fiscal year had risen by 10.5% to 14,088,665. This is the highest growth rate seen since 1996 when it increased by 15.3%. In Fukushima Prefecture, the rate increased by 51.3%. Incidentally, Fukushima previously had a low proportion of property owners with earthquake insurance. Miyagi Prefecture had the second highest increase of 30.1%, and Iwate Prefecture was third with a 23.7% increase.Read more