Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Concerns mounting over insurance companies in South

Damien
O’CONNOR
Labour West Coast/ Tasman MP

Wednesday, 16 March 2011 MEDIA STATEMENT

Concerns mounting over insurance companies refusing cover in the South Island

Insurance companies need to keep offering insurance for South Island people and businesses despite the Christchurch earthquake, Labour Rural Affairs spokesman Damien O’Connor says.

“Concern is mounting that some insurance companies may be operating a blanket no South Island coverage position. That’s not good enough.

“Refusal by insurance companies to cover new house owners in the South Island as a result of the Christchurch earthquake is outrageous, and will seriously impact the area’s economy,” Damien O’Connor said

“I am aware of a house purchase being blocked in Westport because of an inability to purchase insurance and stories are emerging from Picton and other towns in the South Island.

“What the South Island does not need is insurance companies blocking business and relocations in an attempt to cut their losses. While we can all understand the impact on their downside, they are in the business of risk management, not risk aversion.

“They happily take premiums for years for events that rarely occur. When they do their own insurance kicks in and the wheels of commerce continue. That is the way the risk is shared.

“The question is whether the National Government was aware of this change and if so, what will it now take to get the policy reversed? Otherwise Christchurch and the entire South Island will come to a grinding halt,” said Damien O’Connor.

“Insurance companies operating a blanket no coverage in the South Island area must be up front about what they are doing and the Government needs to be upfront with the public about what it is doing about the situation.

“At this time the last thing the economy needs is insurance companies refusing to cover entire regions,” Damien O’Connor said.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gaza.Scoop: UNRWA School, Ambulances Attacked - Gaza MOH

The Ministry of Health Gaza expresses its horror and outrage at the latest Israeli massacre moments ago at an UNRWA school sheltering displaced persons in Beit Hanoun. Ten people have been killed and there is a large number of wounded. More>>

ALSO:

Gordon Campbell:
On Gaza And Burning The Israeli Flag

One of the selling points in New Zealand’s campaign for a temporary seat on the Security Council is that we have a pluckily independent voice to offer on international conflicts.

This image is not entirely self-delusional. When we did occupy a temporary UN Security Council seat in the 1990s, New Zealand was forthright about the need for the international community to actively respond to the Rwanda genocide. On April 14, 1994, New Zealand, Nigeria and the Czech Republic were the only nations to call for a forceful UN intervention to halt the killings. It was a proud moment in the diplomatic record of the Bolger government.

What then, is the current National government doing with respect to the slaughter in Gaza? More>>

 

Parliament Today:

Minister Told Of FBI Investigation, Says INZ: Coleman Must Quit Or Be Sacked Over Dotcom Case - Harré

Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. More>>

ALSO:

Resignation Not Accepted: Transport Minister Breaches Aviation Security Rules

"Running late for a plane at Christchurch Airport, I without thought breached airport and airline security rules by entering the gate lounge through a door usually used for exit only..." More>>

ALSO:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

EPA: Board Of Inquiry Rejects Basin Flyover By Majority Of 3 To 1

The independent Board of Inquiry delegated to decide on the Basin Bridge Proposal has, by a majority decision (3 to 1), cancelled the Transport Agency’s Notice of Requirement and declined its resource consent applications for the construction, operation and maintenance of a flyover on State Highway 1 in Wellington City... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news