'Grossly disproportionate' to intervene on flood insurance: industry body

Flood insurance is the wrong place to focus for climate change adaptation, the Insurance Council says. (Image: Getty)

Tue, 07 Jun 2022

Government intervention to create a flood insurance scheme to help manage the impacts of climate change would be a “grossly disproportionate response”, the Insurance Council (ICNZ) warns.The submission responds to one of the few concrete proposals contained in the draft national climate change adaptation plan (NAP) published by the government last month.The draft plan asked for submissions on the potential value for New Zealand of a scheme like that introduced in Britain, known as Flood Re, to make flood insurance available to homeo...

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