1 May 2019

Wellington mayor suggests govt-backed insurance company

From Morning Report, 7:25 am on 1 May 2019

In the face of a projected surge in insurance costs, the mayor of Wellington is rallying the troops to come up with a solution. IAG - New Zealand's largest general insurer - is starting to charge higher home and contents premiums for customers in areas prone to natural disasters and severe weather, and in some cases won't offer any insurance at all in the capital. Mayor Justin Lester is calling for a forum of key players to tackle the problem.