The number of climate change-related extreme weather events is on the rise, making it harder for many people to buy affordable home insurance.
The industry has already signalled it is pulling out of some places in Aotearoa New Zealand, leaving the government and homeowners to question what happens next. This is not something that should be ignored, or met with ad-hoc, unplanned responses.
Since insurance is required for residential mortgages, the retreat of insurance companies will have significant consequences for property prices and local economies.
