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BobBelcher2021 t1_j9myv6j wrote

Reply to comment by Zaku0083 in Magnitude 7.2 earthquake strikes Tajikistan, near border with China by Papppi-56

I actually have earthquake insurance where I live in the PNW.

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cedped t1_j9ntpio wrote

and I'm 100% sure they'll find a way to weasel their way out from paying you if there is an earthquake. Either that or they'll delay it infinitely until they declare bankruptcy.

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KINK_KING t1_j9p5ags wrote

Looks like insurance companies are excepted from the Bankruptcy Code under 11 U.S.C. § 109(b). I don’t know anything about insurance codes, but state law controls. Probably go into receivership and if liquidated, a fixed payout from the state guaranty association for policy holders (similar to state version of FDIC for banks, depending on state).

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[deleted] t1_j9n75yr wrote

[deleted]

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UtahCyan t1_j9ncfzi wrote

You can always find an underwriter for just about everything, it's just usually really expensive. My previous house was literally on a fault and the cost was insane.

But even if they can find it, it doesn't mean it will be there when you need it. Massive catastrophic events like that have a way of bankrupting insurance companies. They might be able to reinsure, but for something like this, probably not.

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nooblevelum t1_j9ne37q wrote

You aren’t exactly giving a ringing endorsement of earthquake insurance

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Slimsaiyan t1_j9ni6o9 wrote

Thats the secret scare people away from it less people claim insurance claims don't bankrupt company They get their insurance check

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