Earthquake insurance mechanism: it is difficult to avoid the embarrassment of missing

Yesterday at the information Office Press Conference, the Civil Affairs Ministry disaster relief Division Wangzhenyao pointed out that the Wenchuan earthquake is Western region damages have occurred since the founding of the largest of the devastating earthquake. 13 March afternoon, National Civil Affairs Bureau announced that the latest death toll has reached 11921, due to the disaster caused by the direct economic loss of $ 537.9 billion. Faced with such enormous economic losses, earthquake insurance is a blank. Life insurance can claim personal loss as far as I understand it, property insurance will normally be earthquakes, tsunamis and other natural disasters caused by the loss as an exclusion that no compensation for business and family from the above-mentioned reasons, the above-mentioned reasons caused property damage. Because of the earthquake resistance of natural disasters are not, once the compensation, compensation surface is too large, it is difficult to estimate the total amount of compensation, insurance companies are in control of the risks, maintain the profit perspective, there is generally no guarantee of earthquakes. And property insurance, life insurance and accident insurance is generally the earthquakes, tsunamis and other natural disasters caused by the accidents into the scope of the insurance liabilities. The earthquake caused personal injury are life insurance claims, but at present in China, general insurance doesn't separate content involving seismic, only death, disability, etc. At present there is no separate underwriting earthquake casualty insurance. Earthquake additional risks is July 2000, approved the establishment of a State insurance regulatory Commission, charging standard is 10% zhuxian. On the one hand, since the insured risk is too great, the insurance companies generally do not take the initiative to customers on seismic additional risks; on the other hand, because of higher fees, many in the choice of insurance the insured will actively avoid additional insurance, earthquake, earthquake additional risks exist in name only. China life VP wanfeng in acceptance of the Beijing evening newspaper in an interview that cover life insurance of the disaster area residents can receive claims. According to Xinhua News, Pacific insurance group also started after the earthquake emergency, emergency mobilization claims personnel to the disaster areas to expand claims service. After the earthquake, ping an allocation of 10 million prepaid loss reserve to Sichuan branch, under the Chinese peace of statistics, as of 5/13/16, the company has received reports of 271 people injured, including losses from property damage 58 56, vehicle losses reported 157. The present insurance processing first single payment has ended, 5/13/00, ping to a Chongqing Tang clan families of the victims were elementary school students pay the full amount of payment, the total compensation of $. Catastrophe insurance system is currently in China, earthquake victims can obtain personal residents of loss claim, but loss of housing property cannot claim. Data show that in 2007, Yunnan Puer earthquake epicenter ninger County resulted in 29 billion yuan in economic losses, most of which cannot be compensated by insurance for post-disaster reconstruction of people pen burden. At present for this type of accident catastrophe international common practice is to establish a Government support of catastrophe insurance system, the cooperation creation of earthquake insurance fund, financial support and tax concessions, and seek through the international insurance company, the risk of sharing rather than through commercial operation to promote the seismic risk. But in China also can draw on international experience, through reinsurance to share the risk, thereby promoting the establishment of catastrophe risk. In seismic danger in this case, we can draw on the experience of Japan. 1995 Japan Kobe great earthquake destroyed a total of 10 million House, after the earthquake in Japan around multiple times. As a result of the housing collapse not only afford housing loans, but also to bear the cost of new housing, and therefore raises residents purchase earthquake insurance, earthquake waves of insurance coverage from 2.9% to 20%. Data show that Japan about 855 million purchase of earthquake insurance, insurance groups 17.2%, most of the non-life insurance company, the insurance premiums keep double growth trend.