No national earthquake insurance: National Council rejects proposal
The Swiss National Council has made an important decision regarding earthquake preparedness. In doing so, it followed the Council of States and rejected the introduction of a national, mandatory earthquake insurance. Consequently, the situation for homeowners and tenants in Switzerland remains unchanged.
Proponents of such insurance argued that a major earthquake in Switzerland could cause significant financial damage. Many private households are currently not adequately covered against such natural disasters. A national solution was intended to provide greater security and social equity.
However, the majority in parliament saw things differently. Critics of the proposal pointed to existing solutions within the private insurance industry. They argued that state intervention in the insurance market was unnecessary and would weaken the personal responsibility of citizens. The insurance lobby had also campaigned intensively against the project.
The decision is now sparking debate. While supporters of the insurance are disappointed and are warning of the financial consequences of a potential earthquake, others welcome the decision as a strengthening of the liberal market. For the population, this means that protection against earthquake damage remains an individual matter.