17 Aug 2022

Government grappling with flood insurance question

From Morning Report, 7:21 am on 17 August 2022

An expert in climate risk is predicting in just 20 years a million dollar property on the Petone foreshore in Wellington could cost $100,000 dollars a year to insure.

Belinda Storey, from Climate Sigma says that's the reality facing some homeowners in the near future.

It comes as the government grapples with whether to set up its own flood insurance scheme to help cover people as private insurers become less willing to.

Climate reporter Hamish Cardwell has been looking into flood insurance, and spoke to Susie Ferguson.