waterfront insurance to rise prohibitively

[eri]

but kiwis still buying like there's no tomorrow

front page story sunday star times

all this worldwide hurricane/typhoon/cyclone storm-surge damage has to be paid for

AND

insurance companies want more in the bank for the rising future risk

PLUS

the recent rise of; quake, tsunami + volcano damage

[Nick G]

Yes, we were talking about it at the conference.

[jack2016]

hi what does this mean? just sea front? or anywhere near a sea? what about rivers and lakes?

[Nick G]

Chat with an insurance broker ;-)

[eri]

let's guess

lakefront, <5mt above water level, in quake zone;............................. eg. queenstown, wanaka... 1x risk premium added
......"......................."................... ..."............ + geothermal zone...eg taupo, rotorua..............1.5 x risk premium

seafront..................."...................... ............................................eg kaipara, manukau, far north bach....1x risk premium
seafront..................."...................... ."..........................................eg wellington, kapiti, gisborne, napier..2x risk premium

1x +25%? for annual insurance (maybe 50% because the gov ecq levy may make it +25% by itself)
2x risk 50%? (maybe +60% with ecq levy)

quake zone .....the south island alpine fault could let loose any time, flattening buildings and perhaps generating a 5mt tsunami??

seafront .......increasing risk of storm surge damage west coast with prevailing winds
increased tsunami risk east coast esp. round the hikurangi trench off east cape