Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Insurance Council Applauds Urgency on Flood Issues

MEDIA RELEASE

6 March 2014

Insurance Council Applauds Urgency on Flood Issues

The Government and the Christchurch City Council are to be applauded for the urgency being given to flood mitigation plans, the Insurance Council of New Zealand said today.

The Insurance Council was responding to the outcome of a meeting today between Canterbury Earthquake Recovery Minister Gerry Brownlee and Major Lianne Dalziel which will see fast-track work for the Flockton Basin in St. Albans and moves to pass special legislation through Parliament to enable work to proceed quickly.

“This area of the city has flooded on several occasions since the earthquakes lowered land in the area. So, this is good news for hard-pressed residents constantly worried about what the next heavy rain will bring,” Chief Executive Tim Grafton said

“It’s also good news for them if mitigation significantly reduces the risk and frequency of flooding because it supports the future insurability of property.

“We are also pleased to hear the City Council is firming up timeframes for how it will deal with other flood risks, Port Hills slope stability and other hazards long-term. Attention to some of these issues will help remove roadblock to recovery efforts,” he said.

“The Christchurch recovery has never been down to solely insurers or EQC or a combination of the two. It should be increasingly clear now that keeping the momentum of the recovery going involves action from local and central government too and tackling hazards in this way illustrates this well.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news