High insurance costs important for climate change action: James Shaw

Thu, 11 Apr 2019

By Pattrick Smellie April 11 (BusinessDesk) - Climate Change Minister James Shaw is backing insurers to raise premiums to discourage New Zealanders from living in areas likely to bear the brunt of climate change, particularly low-lying coastal areas. The Green Party co-leader also noted such moves could create "panic" among landowners in affected areas, judging by the reaction of Wellington homeowners to the recent threat that insurance could be withdrawn. "That wasn’t true, as I understand it, but the initial reporting certainly creat...

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