April 06, 2022
Insurance industry considers coast pull-out
As Tairāwhiti cleans up after last month’s floods, a warning people living on sites affected by climate change may need to pack up and move to higher ground.
The Insurance Council says insurers have received almost 9000 claims totalling more than $44 million from cyclone Dovi in early February.
Chief executive Tim Grafton says extreme weather events are becoming more frequent.
Some areas could become uninsurable.
“Houses that were flooded last year being flooded again this year, it kind of says have we built in the right place? Because with climate change these events become more extreme, more frequent, and if they are hitting certain areas today, that is going to increase over time,” Mr Grafton says.