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Re: [OM] Anchorage Earthquakes

Subject: Re: [OM] Anchorage Earthquakes
From: Philippe <photo.philippe.amard@xxxxxxxxx>
Date: Sat, 1 Dec 2018 20:41:26 +0100
Same understanding here.

Lawsuits in sight ...

In our country, you need an official statement of « Natural catastrophe » by 
the government for a faster refund on your losses. Else, it may take, well, 
some time …

Amities

Philippe



> Le 1 déc. 2018 à 19:26, Nathan Wajsman <photo@xxxxxxxxxxxxxx> a écrit :
> 
> I understand that if you have no insurance you get no payout. But what AG is 
> saying is that insurance companies are telling all customers that they have 
> no coverage, regardless of whether they actually have it.
> 
> Nathan Wajsman
> 
> Alicante, Spain
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> YNWA
> 
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>> On 1 Dec 2018, at 19:22, john hudson <om4t@xxxxxxxxxxx> wrote:
>> 
>> Simple ............ no insurance, no payouts from any source, period !
>> 
>> Otherwise, moral hazard just got a massive shot in the arm !
>> 
>> If the insurers do pay out, one thing is certain .................. MASSIVE 
>> increases in annual premiums thereafter or a total withdrawal from the 
>> earthquake insurance market.
>> 
>> 
>> We had earthquake insurance on our house in metro Vancouver, BC in the 
>> 1990s. Friends and neighbours thought we were nuts ! We did experience a 
>> mild 3 point something tremor but no damage.
>> 
>> Back then the provincial governments earthquakes' emergency response centre 
>> was located on the upper floors of a tall building in metro Vancouver. When 
>> there was an emergency test drill the building had to be vacated and the 
>> drill's procedures flopped !
>> 
>> Anchorage is just one of numerous big centres along the same fault line 
>> .......... others are Vancouver, Victoria, Seattle, San Francisco, Los 
>> Angeles, San Diego..... etc. Oh, and several nuclear power stations in 
>> California. Anchorage's damages would be trivial compared to what a "big 
>> one" [say a 9.0 +] would do else where along the same fault line. 
>> 
>> 
>> jh
>> 
>> On 12/01/18 10:29 AM, Bill Barber via olympus  <olympus@xxxxxxxxxxxxxxxxx> 
>> wrote:
>>> 
>>> 
>>> 
>>> 8. Insurance companies are telling ALL customers that they have no
>>> earthquake coverage regardless of whether they do or not.
>>> 
>>> 
>>> Can't imagine this one is true. Unfortunately, when folks are given a 
>>> choice about buying coverage for risks that exist in their area, some 
>>> decide not to protect themselves from the financial loss resulting from a 
>>> disaster. The experience of this jaded old retired insurance agent is that 
>>> the federal government (you can read that as federal taxpayers) usually 
>>> steps in and lessens the individual losses for those who are, by choice, 
>>> uninsured. That is sort of the way it works. If I had earthquake insurance 
>>> and either my agent or my company told me I had no coverage amidst this 
>>> type of event, I think I'd be looking to replace either one or both . . . 
>>> and that is also how it works. Bill "Gratefully Retired" Barber
>>> 
>>> 
>>> 
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