Viewing entries tagged with 'quake'

Business claims top $653m from November earthquake

3 February 2017

Reuters: New Zealand businesses have made insurance claims of more than NZ$900 million ($653.49 million) for losses from the earthquake that rocked the capital city of Wellington in November.  More>

Government won't bail TOWER

7 December 2016

Government confirms it has not been approached by Tower as the insurer seeks capital to ring-fence its quake-related business; Forsyth Barr expects Tower to sell 'RunOff Co'. More>

Banks vulnerable to underinsurance

5 December 2016

Question marks remain over whether banks will be caught swimming naked if the tide goes out and New Zealand is hit with another major earthquake. More>

NZIER quarterly predictions

30 November 2016

NZIER's Quarterly Predictions are for localised effects from earthquakes and higher interest rates.  More>

KiwiSaver relief for quake-affected

23 November 2016

Commerce and Consumer Affairs Minister Paul Goldsmith has announced relief for KiwiSaver members who are suffering financial hardship following the November 14 earthquakes, by making it easier for them to withdraw their funds.  More>

Insurers monitored by AM Best

21 November 2016

Insurer credit rating agency AM Best to closely monitor implications for the financial strength of insurers with significant exposure to earthquake hit regions. More>

Tower confident following quakes

16 November 2016

Tower confident it has enough reinsurance so the North Canterbury quakes won't set it back more than $7.2m; Share price falls as its investors wary 2010/11 quake hangover remains. More>

EQC Act review stalled by 'the complexity of the issues and ongoing engagement with insurance industry stakeholders'

28 October 2016

Six years on from the first Canterbury earthquake and the legislation outlining what both the Government and private insurers are responsible for in the event of another natural disaster is still up in the air.  More>

Tower upsets a reinsurer by allegedly catching it 'off-guard' in its haste to secure desperately needed cash

15 September 2016

Tower risks losing a chunk of the $50 million of emergency reinsurance it’s counting on to settle its outstanding Canterbury earthquake claims. More> 

Insurers backing down from sum insured policies

13 September 2016

Competitive pressure is forcing insurers to back down from "sum insured" house policies, one expert says. After the Christchurch earthquakes, almost all the country's insurers switched their house cover policies from "full replacement" cover - which would pay out whatever it cost to rebuild a house in the event of a disaster - to "sum insured", where the insured and insurer agree on an amount to be covered. More>