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- Published on Thursday, 19 April 2018 03:53
Big changes in NZ earthquake insurance are coming?
Despite the widespread destruction caused in Christchurch by the February 2011 earthquake, recovery of the city has been (and continues to be) greatly assisted by the widespread - almost ubiquitous - insurance coverage of both commercial and residential properties. Insured loss estimates continue to climb, but are in the order of at least NZ$15b.
Although with restrictions, insurance cover has continued to be available throughout the region. But it appears risk pricing developments may significantly change this model. Some interesting media coverage and links are below.
In this new enviroment, CSI's EQResponse solutions are an even more essential tool than ever before: more information, specfic to your site and building establishes certainty and reduces risk. Demonstrate to your insurer a credible risk reduction strategy and negotiate premiums based on certainty, not a distant re-insurer's guess.
http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&;objectid=12021787
https://www.stuff.co.nz/business/102777201/all-earthquakeprone-houses-could-face-insurance-hike