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New Zealanders who own properties at risk of floods or earthquakes may be unable to afford insurance coverage, the Reserve Bank warned. Rising premiums may make home insurance "increasingly unaffordable" for households, a...
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New research from insurers AMI, State and NZI revealed that 86% of people would now consider climate risk when choosing a home, compared to 55% just two years ago. The research found that house hunters rank weather and natural disa...
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Key elements leaders must consider in crisis management
Gallagher Bassett New Zealand reflected on the significance of crisis readiness on the first anniversary of the devastating Cyclone Gabrielle. Chief executive Craig Furness said building knowledge within organisations was a key les...
IBANZ Forum
Question: Hi, We have a client whose rental home suffered significant damage as a result of the Auckland floods. The tenants vacated the property immediately and the insurer/assessor arranged strip out of the property....
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Combined claims for the Auckland Anniversary Weekend flooding and Cyclone Gabrielle stood at 96,586 claims worth $2.47 billion as of early April, according to the Insurance Council of New Zealand. By April, insurers paid out over...
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The New Zealand government has approved an additional $25 million in relief funds for businesses impacted by Cyclone Gabrielle. In April, the New Zealand government approved an additional $50 million in short-term support for...
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New Zealand’s stormy summer resulted in five times more insurance claims than last year, according to AMI, State and NZI Insurance’s latest Wild Weather Tracker. The IAG brands received 41,596 weather-related claims...
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The Auckland floods and Cyclone Gabrielle caused between $9 billion and $14.5 billion of asset damage, according to Treasury estimates. According to official forecasts, residential property damage will range between $2 billion and...
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The summer’s extreme weather will have significant ramifications for the insu...
When asked about the magnitude 6.3 earthquake that rocked the central North Island on 15 February this year, the Prime Minister, Chris Hipkins, said that he was looking out the window for a plague of locusts. Hipkins’...Feature
Nearly half of Auckland residents do not have home insurance, according to a startling new study from global price comparison site Finder. In the wake of Auckland’s devastating summer floods, new research reveals that 45% of...
