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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 c...
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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 adap...
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 m...
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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,...
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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...
Insurance
IAG has called for a change in approach to natural disaster management following last year’s devastating floods. The insurance group reflected on the one year anniversary of the North Island floods and Cyclone Gabrielle,...
IFSO Case Study
When Rawiri’s* car was damaged in the Auckland floods, he thought he would be fully covered, having arranged car insurance with an agreed value of $19,000 just a year earlier. However, when Rawiri made his insurance claim,...
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The Hawke’s Bay Independent Flood Review has called on home, business and property owners, iwi/hapū, communities, business groups and regional infrastructure owners impacted by flooding from Cyclone Gabrielle to contribute...
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The weather may have subsided, but the summer’s events will have a lasting im...
With the claims process underway, the long-term impacts of Cyclone Gabrielle and the Auckland Anniversary weekend floods are affecting brokers and their clients. As underwriters reevaluate their coverage and exposure in impacted areas,...
