Source: Insurance Council of New Zealand | Te Kāhui Inihua o Aotearoa
The Insurance Council of New Zealand | Te Kāhui Inihua o Aotearoa (ICNZ) is calling on the next Government to prioritise climate adaptation, resilience and long-term funding to reduce New Zealand’s exposure to natural hazards.
ICNZ Chief Executive Kris Faafoi said the acknowledgement during last night’s Stuff leaders’ debate of the growing risks from climate-related events was welcome, but the next step must be practical action.
“It was positive to see both leaders recognise the challenges extreme weather poses for communities, businesses and infrastructure,” Kris Faafoi said.
“But New Zealand has spent a lot of time talking about the problem. The next Government must pivot to action to reduce risk for New Zealand’s communities that are the most vulnerable to natural hazard risk.
“That means investing in flood protection and other resilience infrastructure, making better planning decisions and avoiding further development in high-risk areas. It also means facing difficult decisions about how and where communities develop.
“Long-term funding is critical. Communities and councils need certainty to plan and invest in resilience and adaptation measures that reduce risk,” Kris Faafoi said.
Research commissioned by ICNZ found seven in ten New Zealanders expect flood, landslide and coastal inundation risks to be a significant challenge for future governments.
Fewer than half (48%) believe politicians are taking the risks posed by extreme weather events seriously, while nine in ten want political parties to work together on solutions. The research also found two-thirds (67%) believe natural hazard risks impact property insurance premiums.
“Insurers help communities recover after disasters, but recovery is not a substitute for reducing risk before disaster strikes,” Kris Faafoi said.
“There was clear agreement from the National Party’s Christopher Luxon and Labour’s Chris Hipkins that New Zealand cannot keep rebuilding after every disaster.
“We need to invest ahead of events, strengthen vulnerable infrastructure and bring government, councils, insurers and banks, and communities together around a durable national approach.
“With 219,000 homes valued at $180 billion identified during the debate as being at risk from coastal or inland flooding, the consequences of delay are becoming increasingly clear.
“The best way to support the long-term accessibility and affordability of insurance is to reduce the risks facing homes, businesses and communities.
“Communities are increasingly feeling the impacts of climate change and the need for action is becoming more urgent.
“The challenges are well understood. What we need now is delivery,” Kris Faafoi said.
Notes to the editor
The research surveyed 1,013 respondents, with a margin of error of ±3.1%.