It's time to fix 'dumb' mistakes in NZ's infrastructure, says insurance body head

The Wellington suburb of Petone is at risk of earthquakes, tsunamis, river flooding and liquefaction, says Tim Grafton. (Image: Getty)

Greg Hurrell

Tue, 24 Oct 2023

New Zealand has made major historical mistakes in where it has built and needs to stop building in “dumb” places, the outgoing head of the Insurance Council of NZ says.Tim Grafton is stepping down as chief executive of the Insurance Council of NZ (ICNZ) next April after a frenetic 11-plus years marked by major earthquakes and national infrastructure under increasing pressure from climate change.He said insurers could only take on a certain amount of risk and could no longer be relied on to fix everything when the worst happened.&nbs...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Property

Du Val pair ordered to pay costs

The Clarkes are to pay the markets regulator following the asset seizure hearing.

Maria Slade 1:00pm

Property

Auckland developer collapse leaves $40m in debt

Between all firms, debts with the IRD are about $25 million.

Gregor Thompson 11:56am

Auckland developer collapse leaves $40m in debt

Markets

Trump's trade war hits the NZX

The kiwi dollar fell to a six-month low against the greenback.

Rebecca Howard 11:40am

Sponsored

The risks of powering New Zealand’s data boom

Sydney has curbed data centres to save power and water. Can New Zealand plan more wisely?

Dentons

Sponsored

Spedding Rd powers Auckland growth

$56m in new infrastructure unlocks business opportunities.

Oyster Capital Spedding Road

More Infrastructure

Infrastructure

Aratere sold for scrap, price deemed commercially sensitive

The Aratere ferry has been sold to a specialist recycling shipyard in India for an undisclosed amount.“Details of the sale price are commercially sensitive,” Duncan Roy, executive general manager of Interislander, said. The ferry was retired last August to make way for the port...

Rebecca Howard 10 Oct 2025