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Member, Beacon International Group, Ltd.
The Insurance Council of New Zealand has welcomed the decision of the country's government to include the management of natural hazards in a revamped Resource Management Act, reported Asia Insurance Review.
Nick Smith, the country's Environment and Housing Minister announced the proposed changes to the law.
"New Zealand is highly vulnerable to natural hazards, so we welcome the Minister's intention to include the management of significant natural hazards as one of the significant critical changes to the Act," said Tim Grafton, chief executive of ICNZ.