Thinking Of The Earthquake Insurance In China Caused By "East Japan Earthquake"

Earthquake brought great disaster to human. Especially in rent years, big earthquakes frequently happen, which heavy casualties were caused. Facing the big losses of earthquake, it is clear not enough relying solely on the government to enforce the disaster reconstruction and economic compensation for the victims. As a means of resources storage and economic compensation, the function and efficiency of earthquake insurance should be paid attention to.There are numberless of disasters and losses brought by earthquake in history. China happens to be in the Pacific Rim seismic zone, so suffered from earthquake disaster deeply. Due to China’s earthquake risk management system is mainly developed in the planned economy system, that the after-earthquake public facilities and housing reconstruction mainly rely on government subsidies and social donation, for the general public and enterprises from the earthquake caused economic losses usually take "fate". Wenchuan’s earthquake insurance system in China lags far behind the needs of socio-economic development; It also speeds up the urgency of China’s economic and social demand for earthquake insurance.Great East Japan Earthquake with its resulting tsunamis and nuclear leak have a profound impact on Japan and the global region. However, Japan earthquake insurance and its reinsurance system which capabilities in risk diversification also played a strong role in reducing the earthquake damage. In modern society earthquake insurance is the best method of the victims to help themselves. Japanese earthquake insurance has a combination of commercial and political means, overcoming underwriting earthquake risk of the obstacles with public power intervention. In addition, government gives the insurance companies tax concessions.Based on China’s current condition of earthquake insurance and drawing lessons from a series of measures in the earthquake in Japan, we put forward the suitable earthquake insurance countermeasures. Improving the relevant laws and regulations; taking the government and business insurance company to participate; mobilizing the enthusiasm of all forces and achieving risk multi-level sharing principles; taking Chinese characteristics of mandatory and voluntary insurance principles; setting up a special earthquake insurance fund; enhancing the public awareness of earthquake insurance and so on.