There is no compulsory nationwide earthquake insurance in Switzerland. Only 15 percent of buildings are currently insured against earthquake damage. However, severe earthquakes are among the rare but greatest risks to which Switzerland is exposed.
Last year, the Federal Parliament required the Federal Council to create a basis for financing building damage in the event of a major earthquake. The Federal Council has now proposed this.
In the future, according to the Federal Council, the standard should apply that all homeowners must pay a maximum contribution of 0.7 percent of the home insurance to cover damage. This can currently cover damage to buildings of up to approximately CHF 20 billion.
Based on a report by a working group composed of the Confederation, cantons and associations, the Federal Council has instructed the FDF to prepare a draft constitutional amendment consultation draft by December 2023. The conditional liability applies to all buildings in Switzerland with an insured amount up to CHF 25 million, with the exception of federal buildings. (SDA)
Source:Blick
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