Frustrating cultural quirks of engineers: believing that insurance companies routinely capriciously deny claims for low-risk high-hazard policies like homeowner’s insurance. “They’ll never pay!” Their regulator has them report a loss ratio annually. It’s 80%+ of premiums.
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Am I wrong to believe that earthquake insurance is ineffective in Japan? Data welcome.
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You should assume earthquake insurance will pay out as described and non-earthquake insurances like e.g. life insurance with an earthquake exclusion will nonetheless pay out absent a national calamity 100X+ worse than the 2011 earthquake. Lots written in Japanese on this.
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