Insurance retreat is a financial stability risk

Owners of high-risk properties are likely to face higher insurance premiums. (Image: Getty)

Tue, 30 Apr 2024

The Reserve Bank of New Zealand says residential insurance remains “generally available", but insurance retreat presents a long-term challenge for the financial system ahead of Wednesday’s six-monthly financial stability report. “All stakeholders (insurers, central and local governments, buyers and lenders) [should] take action now to improve their understanding of natural hazards so that future insurance affordability challenges can be better managed,” the Reserve Bank (RBNZ) said.Insurance availability makes...

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