Risk-averse insurers creating threat to NZ economy

The Dominion Post, 4 may 2019

The Insurance Council says the higher pricing and withdrawal of cover is merely a reaction to greater risk and previous significant losses.

Its chief executive, Tim Grafton, says it's not the job of the council's members to support people who can't afford cover. And New Zealand insurers rely on sources of foreign capital that demand the responsible, rational pricing of risk.

Banks will not lend on property without insurance, and it's highly unlikely that you'll be able to sell it if it's uninsurable

Read the full editorial here: https://www.stuff.co.nz/business/property/112448448/riskaverse-insurers-creating-threat-to-nz-economy

Simon Darby