Climate change is going to have a impact on insurance in New Zealand, and homeowners are likely to pay the price.
The Insurance Council of New Zealand has warned that our country is one of the most vulnerable to the impact of natural disasters for an economy of our size.
Hawke's Bay areas including Haumoana are the most obvious examples of insurance cost rises related to climate change.
Low-lying areas around Napier are at risk. A large chunk of the Hauraki Plains lie below sea level. They're at risk as well, according to Bryce Davies - the general manager of corporate relations at IAG, whose insurance brands include State and AMI.
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