Compulsory Earthquake Insurance must be held when housing loans are disbursed by banks. It may be obtained by the bank issuing the loan, through informing the insured person, if the borrower has not purchased a policy. In the event that the insured party does not renew the policy during the loan period, the relevant policy is renewed by the bank, which shall inform the insured person.
Checks for the Compulsory Earthquake Insurance policy are carried out during the title deed procedures.
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