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Can compulsory building reports save insurers millions?
A Christchurch-based building consultant says the property insurance model is “flawed” and building reports that are both compulsory and detailed would significantly reduce the costs and risks faced by insurers, consumers an...Insurance Council News
One in two New Zealanders believe the Government should invest more to protect people and properties from extreme weather events, according to a new survey. Commissioned by the Insurance Council of New Zealand | Te Kāhui Ini...
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IAG has published new research in collaboration with Sapere Research Group that shows New Zealand’s $64 billion spend on natural hazards is heavily skewed to recovery over resilience. This research has been publis...
FSCL Case Study
The Body Corporate disagreed with the insurer’s decision to decline their claim
Spencer* is the representative of a Body Corporate that manages a large commercial complex. In 2023, an intense period of heavy rainfall and subsequent flooding caused significant water damage to the complex. Surface flooding damaged...IFSO Case Study
A company owned a rental property covered by a commercial business insurance policy. After a heavy rain event, the rental property was damaged when the slope behind it slipped. The repair costs for the damage came to $9,706,...
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The worsening impacts of climate change will force home insurers to stop covering thousands of risky coastal and flood-prone properties in New Zealand, a new report warns. The paper from the Helen Clark Foundation and engineering...
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Economic losses from natural disaster events reached $368 billion in 2024, driven by Hurricanes Milton and Helene, severe convective storms in the U.S., and flooding across Europe. These events demonstrate the critical role of...
FSCL Case Study
Olivia* is the owner of a small home renovation business supplying both material and labour to homeowners (the business), in the Hawkes Bay area. In February 2023 the area was severely impacted by Cyclone Gabrielle, causing...
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A recent report by Intersec has found that New Zealand ranked ninth on the list of countries most impacted by natural disasters between 2000 and 2024. Utilising data from EM-DAT and population figures from publicly available...
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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,...
