News
The big business cost bucking the trend and tracking south
14+ hour, 34+ min ago (825+ words) Marsh insurance brokers say some commercial insurance premiums have fallen by as much as 60%. Commercial insurance premiums are expected to keep falling throughout the year, as the global reinsurance market remains soft. Commercial property, professional indemnity and business interruption insurance…...
How risky is your home? The fight over flood models and soaring premiums
5+ day, 10+ hour ago (832+ words) At a time when one-in-100-year storms are more frequent and some areas in New Zealand struggle to get home insurance, the owners of two Bream Bay homes got very different results when they complained to Tower about soaring house…...
Could your home become uninsurable, unbankable and worthless?
1+ mon, 3+ hour ago (608+ words) Insurers have begun their retreat as climate change bites. Back-to-back disasters in recent years have pushed insured loss into the billions and forced tough questions about what can still be covered. Home owners in flood- and coast-exposed areas are starting…...
Matt Whineray: Govt can't be de facto insurer of property after weather events
7+ mon, 2+ week ago (708+ words) How we respond to extreme weather events exacerbated by climate change has been in the news following the release of a report from an Independent Reference Group advising the Ministry for the Environment. The report is not Government policy; it…...
How a $2.15m home dropped to $50k; plan for flood-damaged Akl properties revealed
7+ mon, 3+ week ago (759+ words) Hundreds of vacant sites where storm-damaged homes have been removed in Auckland will be offered to community groups for playgrounds, planting and even grazing sheep and horses. Auckland Council is the new owner of about 260 empty sections from the clearing…...
Why some Māngere homeowners reject council's flood buy-out offer
8+ mon, 1+ week ago (1499+ words) By Grace Tinetali-Fiavaai of RNZ Two and a half years have passed since the Auckland Anniversary floods which claimed four lives and impacted thousands more. Much progress has been made to recover from the events of that fateful weekend in…...