31 Jul 2018

Report forecasts future of weather-related insurance claims

From Nine To Noon, 9:08 am on 31 July 2018

New research by Motu Economic and Public Policy Research has examined the impact on EQC of weather related flood claims. Wild weather has seen Earthquake Commission pay out nearly 300 million dollars on 25 thousand claims since the beginning of this century - but low income homeowners affected by floods and slips - get fewer payouts. Report co-author, Professor Ilan Noy, says higher income homeowners, living within six kms of the coast, made more than half the claims. He says the analysis is the beginning of understanding what we may face in the future when it comes to weather-related claims.