Many Israelis only think they have insurance coverage in case of an earthquake, when in reality their policy would not cover most damages, the Ometz watchdog group’s social branch, Ometz Hevrati, has charged. The group recently turned to the head of the Finance Ministry’s branch for oversight of insurance, Professor Oded Sharig, and asked him to investigate.

Ometz explained that many home owners pay for policies, including additional policies sold specifically as earthquake insurance, that have conditions that buyers are not aware of. An in-depth professional review of the policies revealed that many promise payment only if the building is completely rebuilt – a criteria which, for apartment owners, could only be fulfilled with the agreement of every tenant in the building as well as local planning and construction authorities.