On Jul. 2, 2025, TAI FSC, TAI Justice issued order to finalized the above consultation.
The amendments are effective from Jul. 15, 2025.
On May 15, TAI FSC proposed amendments to earthquake insurance.
TAI FSC proposed amendment to article 3, 7 and 13 of Implementation regulations for the risk spreading mechanism of residential earthquake insurance.
Background
The insurance currently provides compensation only when a building is deemed a total loss (collapsed or uninhabitable), along with temporary accommodation expenses.
Recent earthquakes have caused many buildings to be tagged as unsafe without meeting total loss criteria, leaving affected homeowners ineligible for compensation.
Proposal
Proposes to expand the scope of temporary accommodation coverage without increasing premiums or total insured risk, thereby improving policyholder protection.
Clarifies that temporary accommodation expenses are part of insurance claims.
Provide NTD 100k in temporary accommodation expenses per insured property if tagged as unsafe after evaluation, with total cap of NTD 200k per insurance period.
Comment End
Consultation will be open for 30 days after publication of consultation paper.
May 16, 2025 Consultation Paper Published
On May 16, 2025, TAI FSC, TAI Justice issued notice to start the above consultation.
The comment period closes on Jun. 16, 2025.
Jul. 2025 Amendments Finalized
On Jul. 2, 2025, TAI FSC, TAI Justice issued order to finalized the above consultation.
