Brakes on for climate change flood insurance scheme

Brakes on for climate change flood insurance scheme
Climate change minister James Shaw launches the national adaptation plan at Wellington's flood-prone Owhiro Bay. (Image: BusinessDesk)
Pattrick Smellie
The government has quietly backed away from the vigorous pursuit of a new flood insurance scheme after strong pushback from the insurance industry, which feared the proposal could increase climate change risks.A proposal to examine the British flood insurance scheme known as Flood Re was the only previously undisclosed policy idea released in the draft national climate change adaptation plan (NAP), released in May.The Insurance Council responded in a submission that the idea was “grossly disproportionate” to the risk, particularly a...

More Policy

MoT to gauge market interest in toll road concessions
Policy

MoT to gauge market interest in toll road concessions

Investment bank Citi will assist the ministry. Transurban has already signalled interest.

Oliver Lewis 03 Jul 2025
Govt announces first three 'regional deal' contenders
Policy

Govt announces first three 'regional deal' contenders

Ministers want regions to consider 'asset recycling', among other funding tools.

Oliver Lewis 02 Jul 2025
‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades
Policy

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades

Two of the biggest NZ ports are raising prices as they plan major investments.

Oliver Lewis 02 Jul 2025
'There are some firms in NZ I won’t touch'
Policy

'There are some firms in NZ I won’t touch'

Adam Feeley on the reluctance to call out poor performers in NZ infrastructure sector.

Oliver Lewis 30 Jun 2025