From New Zealand
New Zealand's largest insurer of churches and heritage buildings announced yesterday that it would stop offering earthquake coverage throughout the country.
The British-owned Ansvar Insurance suffered $700 million worth of losses in the Christchurch earthquakes, including losses on the Anglican and Catholic cathedrals and the Christchurch Arts Centre.
It is the first insurer to stop offering earthquake coverage nationally since the disasters, which are expected to cost insurers more than $15 billion.
It raises fears that insurers and reinsurers worried about further aftershocks may stop offering earthquake cover throughout NZ, forcing the Government to step in with its own expanded scheme or coverage.
Parts of Japan and California are practically uninsurable for earthquakes because of sky-high premiums.
More here-
http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10755440
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