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t1_j9myv6j wrote

Reply to comment by in Magnitude 7.2 earthquake strikes Tajikistan, near border with China by

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

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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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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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t1_j9n75yr wrote

[deleted]

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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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