09 July 2021
University of Canterbury Dr Tom Loganâs call for action asks for governments to prepare better for uninsurable properties related to rising sea levels in a new article on The Conversation.
The major storm surge and coastal flooding in Wellington earlier this month was another reminder that the sea is now lapping close to a lot of New Zealandâs front doors. The ominous question is: who will pay when it crosses the threshold?
But thatâs not a question worrying insurance companies. Theyâve made their position clear â they wonât be paying for it.
Insurance is based on uncertainty and is reevaluated annually. When the chance of damage rises beyond what an insurance company is prepared to bear, it withdraws.
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