Natural Disaster

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Vero urges Canterbury farmers to use mental hea...

Vero Insurance urged customers affected by flooding in Canterbury to use the mental health benefit on their rural insurance policies. “The flooding in Canterbury is having a significant impact on our rural insurance customers...

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Climate change prompts risk-based pricing revol...

More than ever, underwriters are moving towards risk-based pricing. Brokers n...

Insurers in New Zealand are under increasing pressure to avoid over-exposure to natural catastrophes in high risk regions and coast lines up and down the country. As a result, risk-based pricing has come to the fore as underwriters look...

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Q&A Vero on the National Disaster Response Model

Covernote asks Vero executive manager for specialty claims Matt Williams abou...

How long have insurers and the EQC been in discussions to create this scheme? The new Natural Disaster Response model is something that has been evolving over a number of years. Since 2016 Vero Insurance has been working i...

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New-look Natural Disaster Response agreement

A new National Disaster Response scheme has been created which will see insurers become a single point of contact for disaster-related claims. Insurers and the EQC have confirmed a deal which will see all claims handled by private...

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Managing bushfires in New Zealand

By Mark Taylor Chartered Loss Adjuster, Major & Complex Loss (MCL) Global Pr...

Bushfires are a foreign disaster for New Zealand. Although there have been wildfires in the past, none have been as intense as the recent cases in Australia. The climate in New Zealand is different, and the land isn’t expansive...

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Are businesses prepared for a claims surge event?

By Jon Winsbury and Craig Furness, Gallagher Bassett

The topic of climate change is rapidly rising in prominence on the global public agenda. And, as the world experiences endless parades of catastrophes and significant events on top of the pandemic, claims surge events have become...

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Virtual event tackles climate risks

Some of the risk and insurance sector’s leading voices met online to discuss the rising threat of climate risks and how to tackle the issue in New Zealand. Research firm CoreLogic hosted a virtual event, ‘Moving ahead...

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Northland storm costs insurers $37m

Preliminary figures released by the Insurance Council of New Zealand reaffirm the extent of damage the July Northland floods left behind. There has been $37 million paid to date by insurers to support their customers' recovery....

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Vero research reveals small businesses are conf...

Natural disasters rank well down the list of concerns highlighted by Kiwi SMEs, according to Vero’s most recent SME Insurance Index. The index, which surveyed 900 small and medium-sized enterprise owners (SMEs) found that...

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Customers no longer contact EQC for disaster cl...

The Earthquake Commission (EQC) and private insurers say a new partnership will provide an improved, more collaborative approach to supporting New Zealanders through natural disasters in the future. Under the new partnership, from...

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New Natural Disaster Response Model to improve ...

The Earthquake Commission (EQC) and private insurers have today announced a new partnership that will provide an improved, more collaborative approach to supporting New Zealanders through natural disasters in the future. Under the...

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Suncorp offers support to customers

Suncorp New Zealand reported a $2 million profit drop in the year to June. The New Zealand arm of the insurance company announced a net profit after tax (NPAT) of $259 million, down from $261 million a year earlier. The result...

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Customers get $20 million from their insurers f...

Insurance customers received $19.7 million to meet losses from the February 2020 floods that led to a state of emergency being declared in Southland, Fiordland and Clutha. The preliminary figures show the severity of the event...

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2019 a pricey year for insurers

Provisional results show that insurers spent more than $118.8 million last year responding to severe weather events, with more than 18,000 claims made. "What was looking to be a benign year for extreme events changed in the...

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Criteria for earthquake-prone loan scheme revealed

Owner-occupiers of unit and apartments living in earthquake-prone buildings will have certainty about what support they’ll be eligible for from the Government, Minister for Building and Construction Jenny Salesa says. The...

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