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Zaku0083 t1_j9mug4k wrote

Reply to comment by notunek in Magnitude 7.2 earthquake strikes Tajikistan, near border with China by Papppi-56

Up here in the pnw we are expecting a big one too

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sanguine_feline t1_j9mw8u0 wrote

That's a bit of an understatement.

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Aldervale t1_j9ngh7e wrote

Yup, and we've only really been building with earthquakes in mind since the late 80s. So things will be pretty catastrophic if/when it hits.

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Nozinger t1_j9pa3cz wrote

Because noone knew of the danger. European settlers arrived in the pacific northwest after the last quake. It has been quiet ever since there was no reason to think there would be any danger.
It took some dead forests, a native american story of disappearing land and tsunami records from japan to realize just how dangerous cascadia really is.

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Aldervale t1_j9qvutp wrote

Oh ya 100%. I didn't mean to imply that there was anything corrupt or malicious about the fact we didn't consider it until a couple of decades ago. Just that a lot of buildings in the PNW are not ready for an 8+ magnitude earthquake.

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BobBelcher2021 t1_j9myv6j wrote

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

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cedped 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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KINK_KING 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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[deleted] t1_j9n75yr wrote

[deleted]

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UtahCyan 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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nooblevelum t1_j9ne37q wrote

You aren’t exactly giving a ringing endorsement of earthquake insurance

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Slimsaiyan t1_j9ni6o9 wrote

Thats the secret scare people away from it less people claim insurance claims don't bankrupt company They get their insurance check

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upvoatsforall t1_j9n33f1 wrote

We’re waiting for what would be relatively small, but big for us, one in Canada's national capital region.

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