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Member, Beacon International Group, Ltd.
Tim Grafton, chief executive of the Insurance Council of New Zealand, has said that insurance premiums could increase in the country's South Dunedin suburb as sea levels rise, reported Otago Daily Times.
Mr. Grafton's prediction was in response to new data by GNS Science research institute, which suggests that parts of South Dunedin could be sinking. "It is likely that any insurance impact will vary from property to property depending on the degree of exposure and risk," said Mr. Grafton.