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Government reduces possible payouts for disaster victims
Tags: Excerpts from the Windmill
THE HAGUE - Stating that most people will be able to get calamity insurance, the government is paring down its financial responsibility towards victims of various types of disasters. The earlier ‘generous’ payouts could tempt people to avoid taking out insurance of their own, thinking ‘the government will come across anyway’. Urged by a government commission, the cabinet will see if existing liability insurance can and should be made compulsory, especially for high-risk businesses. Victims of natural disasters often fall between the cracks of existing insurance plans. However, the government is seeking ways to create insurance covering floods and earthquakes.