The Government is considering residential insurance issues, including the role of insurance in climate change adaptation.
Underlying flood risk is increasing due to climate change. This will have implications for insurance – with resulting impacts on homeowners and wider society. For example, climate change may challenge the insurability of some assets (including homes). Relatedly, management of underlying risk has implications for insurability of homes. Any reduction in the role of insurance in managing flood risk has implications for New Zealanders, including resilience to those risks.
The National Adaptation Plan ("NAP") referred to the Government receiving advice on insurance issues and agreeing to next steps (Action 5.4). That advice has been provided (and is included in the Key documents table below). This action is now completed.
Looking forward, work on flood insurance issues is being considered as part of the Government’s wider work on climate change adaptation.
Further information on the Government’s work on adapting to climate change can be found on the Ministry for the Environment’s website: Adapting to climate change
Key documents related to previous Treasury work on flood insurance issues are below.
Key documents
| Doc. Date Sort ascending | Creator | Title |
|---|---|---|
| The Treasury | ||
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| AON | ||
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| AON | ||
| The Treasury |
The following Cabinet material has also been published by the Treasury: