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Coastal News Today | Int'l - With seas rising and storms surging, who will pay for New Zealand's most vulnerable coastal properties?


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 Zealand’s front doors. The ominous question is: who will pay when it crosses the threshold?
But that’s not a question worrying insurance companies. They’ve made their position clear they won’t 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.
This leaves at-risk homeowners with no insurance, either private or through the state’s Earthquake Commission. In the meantime, homeowners will likely continue to pay rising premiums, possibly unaware of the tenuous nature of their coverage. ....

New Brighton , New Zealand General , New Zealand , United States , United Kingdom , Hawkes Bay , James Shaw , Earthquake Commission , Christchurch City Council , Ministry For The Environment , Climate Change James Shaw , Strategic Planning Act , Resource Management Act , Climate Change Adaptation , Managed Retreat , புதியது பிரகாசமான , புதியது ஜீலாந்து , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , பருந்துகள் வளைகுடா , ஜேம்ஸ் ஷா , பூகம்பம் தரகு , கிறிஸ்ட்சர்ச் நகரம் சபை , அமைச்சகம் க்கு தி சூழல் , காலநிலை மாற்றம் ஜேம்ஸ் ஷா , மூலோபாய திட்டமிடல் நாடகம் ,

With seas rising and storms surging, who will pay for New Zealand's most vulnerable coastal properties?


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 Zealand’s front doors. The ominous question is: who will pay when it crosses the threshold?
But that’s not a question worrying insurance companies. They’ve made their position clear they won’t 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.
This leaves at-risk homeowners with no insurance, either private or through the state’s Earthquake Commission. In the meantime, homeowners will likely continue to pay rising premiums, possibly unaware of the tenuous nature of their coverage. ....

New Brighton , New Zealand General , New Zealand , United States , United Kingdom , Hawkes Bay , James Shaw , Earthquake Commission , Christchurch City Council , Ministry For The Environment , Climate Change James Shaw , Strategic Planning Act , Resource Management Act , Climate Change Adaptation , Managed Retreat , புதியது பிரகாசமான , புதியது ஜீலாந்து , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , பருந்துகள் வளைகுடா , ஜேம்ஸ் ஷா , பூகம்பம் தரகு , கிறிஸ்ட்சர்ச் நகரம் சபை , அமைச்சகம் க்கு தி சூழல் , காலநிலை மாற்றம் ஜேம்ஸ் ஷா , மூலோபாய திட்டமிடல் நாடகம் ,

MIL-OSI New Zealand: With seas rising and storms surging, who will pay for New Zealand's most vulnerable coastal properties?


09 July 2021
University of Canterbury Dr Tom Logan’s 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 Zealand’s front doors. The ominous question is: who will pay when it crosses the threshold?
But that’s not a question worrying insurance companies. They’ve made their position clear — they won’t 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. ....

New Brighton , New Zealand General , New Zealand , United States , United Kingdom , Hawkes Bay , Changejames Shaw , Earthquake Commission , Ministry For The Environmentsuggests , Christchurch City Council , University Of Canterbury , University Of Canterbury Dr Tom Logan , Canterbury Dr Tom Logan , Climate Change James Shaw , Strategic Planning Act , Resource Management Act , Climate Change Adaptation , Managed Retreat , புதியது பிரகாசமான , புதியது ஜீலாந்து , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , பருந்துகள் வளைகுடா , பூகம்பம் தரகு , கிறிஸ்ட்சர்ச் நகரம் சபை , பல்கலைக்கழகம் ஆஃப் கேன்டர்பரி ,