Earthquake Insurance Act

The Earthquake Insurance Act is legislation designed to promote and regulate insurance coverage specifically for earthquake-related damages. It aims to provide financial protection to homeowners and businesses against the costs of repairing or replacing property damaged by earthquakes. The act sets standards for earthquake insurance policies, encourages the availability of coverage, and sometimes offers government assistance or subsidies to make it more affordable. Overall, it’s a legal framework to ensure that earthquake risk is managed and that affected individuals and entities can recover financially after seismic events.