6 Nov 2019

Kiwis had a good deal on insurance for decades - expert

From Morning Report, 6:15 am on 6 November 2019

An insurance risk analyst says New Zealanders have had a good deal for decades and rising premiums are only putting insurers on a par with other quake-prone countries.

The Wellington Mayor's Insurance Taskforce says residents can't expect insurance companies to carry as much risk as they have been, and calls for a review of the government's role in the insurance market.

It also proposes setting up a Risk Leadership Group chaired by the Mayor and EQC Minister.

Melissa Heath, who was on the taskforce, told RNZ reporter Jordan Bond building owners have had cheap insurance for decades and even the recent price hikes don't come up to international levels.