Insurance companies are getting very specific when assessing which properties are exposed to risks like flooding, an insurance expert says, but there’s a limit. 

An intense storm like the one that hit some Wellington suburbs yesterday could have happened anywhere, making the risk much harder to pin down to individual properties, Bryce Davies —climate spokesperson for AMI, State, and NZI— told Mike Hosking. 

If people didn’t address the risks to their properties from flooding and wind damage it would “absolutely” have an impact on their insurance premiums, he said. 

Insurers would also be increasingly focused on perils like landslips in the coming years. 

But Davies said AMI, State, and NZI weren’t making blanket decisions to pull insurance from some areas. 

“We’re here to insure people…that’s our business and so we’re focused on making sure that we can do that.” 

LISTEN ABOVE 

Insurance companies are getting very specific when assessing which properties are exposed to risks like flooding, an insurance expert says, but there’s a limit.&nbsp;
An intense storm like the one that hit some Wellington suburbs yesterday could have happened anywhere, making the risk much harder to pin down to individual properties, Bryce Davies —climate spokesperson for AMI, State, and NZI— told Mike Hosking.&nbsp;
If people didn’t address the risks to their properties from flooding and wind damage it would “absolutely” have an impact on their insurance premiums, he said.&nbsp;
Insurers would also be increasingly focused on perils like landslips in the coming years.&nbsp;
But Davies said AMI, State, and NZI weren’t making blanket decisions to pull insurance from some areas.&nbsp;
“We’re here to insure people…that’s our business and so we’re focused on making sure that we can do that.”&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Bryce Davies: AMI, State, and NZI Climate Spokesperson on weather based claims spiking 256%

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/e0eac078-8d23-4afc-8929-b43201507be4/transcript