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

Apprenticeships to be moved to new industry skills boards
Policy

Apprenticeships to be moved to new industry skills boards

Vocational Education Minister says new training model will help build skills.

Maria Slade 24 Apr 2025
Ministry of Justice seeks market feedback on courthouse PPPs
Policy

Ministry of Justice seeks market feedback on courthouse PPPs

Want to build and maintain three courthouses for 25 years? Now's your chance.

Oliver Lewis 24 Apr 2025
Foreign investors show ‘increased interest’ in NZ
Policy

Foreign investors show ‘increased interest’ in NZ

Pension funds are reportedly cooling on the US. Could NZ stand to benefit?

Oliver Lewis 22 Apr 2025
Rise in liquidations compounded by IRD crackdown
Economy

Rise in liquidations compounded by IRD crackdown

The IRD filed two-thirds of creditor applications in the March quarter.

Gregor Thompson 22 Apr 2025