Mandatory earthquake insurance coverage has been updated, introducing inflation protection for policies. Policyholders with coverage prior to January 1, 2024, are urged not to wait for their renewal dates and to contact their insurance agents promptly to ensure their policies reflect these critical updates. This proactive measure aims to prevent potential hardships in the event of an earthquake. Stakeholders are encouraged to liaise with their insurance company or agent as soon as possible to adjust their coverage accordingly.
