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.

This content is available to paid subscribers only.

Sharing information on Japan’s real estate market has been a long passion dating back 14 years. However, gathering and preparing this content takes hours and hours each week. By joining our monthly subscription service, you can access over 3,200 articles dating back 14 years. Best of all, you’ll be supporting us in our endeavor to continue to provide investors with on-the-ground, expert information.

To join our paid subscription service and access over 3,200 news articles on Japan's real estate market, please register here.

Already a paid member? Log-in using your details below.