home insurance policies in places like Westport<\/a> because of flood risk, and Woodend in North Canterbury because of seismic risk.<\/p>\n\u201cInsurance is pretty much widely available in most locations. If it\u2019s not, it\u2019s pretty obvious why, you know, the waves are literally in the lounge.<\/p>\n
\u201cBut we know that that\u2019s going to change. Our perils are going to get worse, and low-lying houses and river valleys or on floodplains or by the coast, we think about those communities a lot, which is why we want a greater focus on risk reduction.\u201d<\/p>\n
He pointed out IAG wants to keep insuring people.<\/p>\n
\u201cThat\u2019s our business. That\u2019s how we make our money.\u201d<\/p>\n
The poll found 61% of New Zealanders agree that insurers should raise premiums for homes and businesses that face more risk, while only 20% are prepared to pay more to subsidise the cost of insurance for people who live in high-risk locations.<\/p>\n
IAG is moving aggressively towards \u201crisk-based\u201d pricing.<\/p>\n
\u201cAs that rolls out, customers are seeing that if they\u2019re in a high-risk location, their premiums are reflecting that risk, and for a lot of customers, their premium\u2019s going down because they\u2019re not living in a high-risk location,\u201d Davies said.<\/p>\n
Eighty-four per cent of respondents say insurers should work with central and local government to keep insurance available and affordable.<\/p>\n
\u201cThere are no silver bullets to actually solving this problem. There\u2019s a lot of things we need to do as a country.<\/p>\n
\u201cIt\u2019s about where we build, it\u2019s about what we build, it\u2019s about how we keep the things that we have built safe.\u201d<\/p>\n
The survey also showed widespread support for doing more to modify the environment to fit in with the impacts of climate hazards and requiring new buildings to meet higher resilience standards.<\/p>\n
There was mixed support for forced relocations.<\/p>\n
Forty-six per cent said local government should buy out property owners severely impacted by climate change due to flooding or inundation, while 63% said more should be done to force home and business owners to move away from high-risk locations.<\/p>\n
When it comes to personal financial impacts, there\u2019s an even split.<\/p>\n
Thirty-three per cent say they are willing to accept their own property value being reduced if climate-hazard risks are not managed well.<\/p>\n
However, the same percentage say they wouldn\u2019t accept taking that financial hit.<\/p>\n
Katie Bradford is a Senior Correspondent at the Herald. She has been a broadcast journalist for over 20 years and was based in the press gallery for 10 years. She specialises in politics, business and Auckland issues.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cAnd it seems like they\u2019re saying that really no one\u2019s doing a good job of managing it or…\n","protected":false},"author":2,"featured_media":501497,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[84865,6636,12974,4442,2950,2841,3588,273,1872,7643,250436,11424,3092,3273,305,78,807,6093,130,117,111,139,69,2170,34592,801,147,23432,6563,8822,1555,61,24750],"class_list":["post-501496","post","type-post","status-publish","format-standard","has-post-thumbnail","category-environment","tag-bracing","tag-challenge","tag-change","tag-climate","tag-confidence","tag-country","tag-cut","tag-environment","tag-face","tag-faith","tag-fiercer","tag-finds","tag-floods","tag-future","tag-have","tag-in","tag-kiwis","tag-little","tag-more","tag-new","tag-new-zealand","tag-newzealand","tag-nz","tag-plan","tag-ready","tag-rising","tag-science","tag-seas","tag-storms","tag-survey","tag-threat","tag-to","tag-zealanders"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/501496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=501496"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/501496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/501497"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=501496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=501496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=501496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}