New Zealand clears natural hazards insurance bill
Posted On: Feb. 22, 2023 9:55 AM CSTThe 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.