Many clients are disappointed and angry when they know that claims for damages / losses to buildings and their property are not paid by Insurance on the grounds that the value of the loss is still below the deductible.

Deductibles or claim deductions or own risks for claims for earthquake losses are 2.5% of the total Sum Insured Price (TSI)

If TSI = Rp 1 Billion à then Deductible 2.5% x Rp 1 Billion = Rp 25 Million
If TSI = Rp 10 Billion à then Deductible 2.5% x Rp 1 Billion = Rp 250 Million
If TSI = Rp 100 Billion à then Deductible 2.5% x Rp 1 Billion = Rp 2.50 Billion

What about High rise building or large factory like Bathtub Terrazzo Jakarta manufacture with a value of hundreds of billions?

He said all forms of damage or losses due to earthquake borne Insurance?
If this way means the building must collapse new Insurance pay?
If only cracked or damaged is not severe means always under deductible?
If so free dong pay premiums expensive ..?
... and so on, once the client's complaints and disappointments.

Why Deductible Earthquake Police Is Great?

Insurance's answer is certainly to protect their net retention portfolio.

Earthquakes are disaster and catastrophic risks, which are natural disasters that can inflict enormous and wide losses so that 2.5% of TSI is considerably fair according to the Insurance manager in a Pool Risk Special Insurance pool now called PT. MAIPARK Insurance Indonesia

From the side of the client or the Insured Deductible 2.5% of TSI is very burdensome to them, especially with a very large Insurance Value when the premium for the risk of earthquakes is very expensive.

tariff in ‰

Tariff and Deductible Earthquake Insurance Policy
The Earthquake Insurance Policy Rate ranges from 0.12% to 0.15% even more depending on the zone, building construction and occupancy

From the site of PT. MAIPARK Insurance Indonesia obtained the following information:

What's Next?
Of course there must be concrete steps to bridge this difference of interest, in terms of insurance there should be adequate protection to protect the net retention of their losses, but the interests of clients to obtain benefits of Earthquake Insurance protection should be noted. It may be necessary to consider the maximum limitations of more fair deductibles, different treatments for simple risks vs. manufacturing and high rise building where small-to-poor communities (read: simple risks) are among the largest groups who suffer losses in earthquake events and do not have risk-prevention mechanisms self insurance) enough to anticipate it should take precedence.

Source: http://ahliasuransi.com/