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International

New Zealand clears natural hazards insurance bill

February 22, 2023 Reprints

The New Zealand parliament has passed a natural hazards insurance bill, which is expected to simplify the claim process following natural disasters, Asia Insurance Review reported. The Natural Hazards Insurance Act 2003, which replaces the current Earthquake Commission Act 1993, clarifies the rules for mixed and multi-use buildings and creates a dispute resolution mechanism.

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New Zealand clears natural hazards insurance bill

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