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Claims - Earthquake insurance - Californian quake coverage too low, says IIN.
(From Reinsurance)
The number of Californians who are properly insured for earthquake damage is far too low, according to the Insurance Information Network (IIN) of California.
The IIN claims that less than 15% of homeowners in the state now have earthquake insurance, despite the fact that 2004 marks the tenth anniversary of the devastating Northridge earthquake. The tremor resulted in $15bn in insured losses and caused a massive amount of damage in and around Los Angeles.
Candysse Miller, executive director of the IIN, said: "Living in California without earthquake insurance is like going to the beach without sunscreen. You're ...
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