Parliament Rejects Financing Solution in the Event of Severe Earthquakes
4 Articles
4 Articles
By 99 votes to 84, the People's Chamber burys the mechanism that would have mobilized up to 22 billion francs in the event of a major earthquake. The status quo is maintained after the refusal of the StatesThe Confederation must not have financial powers in the event of a severe earthquake in Switzerland. The National buried on Wednesday by 99 votes to 84 and 8 abstentions a project that intended to oblige the owners to contribute.The status quo…
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Two years ago, SVV CEO Urs Arbter described the planned state earthquake protection against finews as a "debt solution". Now the proposal has also finally failed in the National Council. The insurance association sees itself confirmed and wants to expand its private protection instead.
The sgv acknowledges the risk posed by earthquakes and the longer-term damage that may result for companies and the economy as a whole. However, the proposed contingency obligation would not have been a sensible solution for it.
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