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International

City should stop transferring quake risk to insurers: Taskforce

November 07, 2019 Reprints

A Wellington insurance taskforce has found that New Zealand's capital city needs to move away from transferring earthquake risk to insurers, Stuff reports. Andy Foster, mayor of Wellington, said, "In future, buildings have to be more resilient, and built in less risky places." The taskforce plans to research if building owners were not taking out insurance because of price or availability issues, and trends that may show an under-insurance of Wellington homes.

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City should stop transferring quake risk to insurers: Taskforce

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