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

 

Two Years With New Methods: Crime Stats Show Increase Led By Burglary

The two years of data show an increase in the total victimisation rate of 3.1 per cent, with 12,060 more victimisations in the 2015/16 year when compared to 2014/15 year. From this increase, 72 per cent is attributable to burglaries. More>>

ALSO:

Auckland Relocation Grants: 12 Grants Paid So Far

Since the policy took effect one month ago, 12 applicants have received the non-recoverable grant, supporting 32 people. $54,508 has been paid out, covering things like moving costs, bond, rent in advance and letting fees. More>>

ALSO:

Vaccine Funding Change: HPV Vaccines For All Children

PHARMAC has today announced changes to funded vaccines, which will benefit an extra 100,000 people... The human papillomavirus (HPV) vaccine will be available for all children and adults up to the age of 26 years, and boys will now be included in the HPV school vaccination programme. More>>

ALSO:

Gordon Campbell: On Why The Opinion Polls For Key And Trump Defy Gravity

What is going on? Donald Trump got confirmed as the Republican presidential candidate at a bizarrely chaotic political convention… and promptly received an upwards bump in the polls to where he’s now rating ahead of Hillary Clinton, for only the second time this year. More>>

Sugar: Auckland Leisure Centres Axe Unhealthy Drinks

Auckland Council is to stop selling drinks that are sweetened by sugar from vending machines at its leisure centres in a bid to try to reduce obesity and type 2 diabetes... More>>

ALSO:

Gordon Campbell: On Todd McClay’s Faulty Memory

Time and again, whenever an issue arises the initial response by government is to deny or diminish the problem – nothing to worry about here, everything’s OK, move on. Then, hang on. In line with the usual pattern, as embarrassing details emerged into daylight, the story changed. More>>

ALSO:

Labour's 'Future Of Work': Major Reform Of Careers And Apprenticeships

The next Labour Government will transform careers advice in high schools to ensure every student has a personalised career plan, Leader of the Opposition Andrew Little says. More>>

ALSO:

State Investments Management: Treasury Likes IRD, Not Education Or Corrections

The Inland Revenue Department has scored an 'A' in the first tranche of the Treasury's investor confidence rating for state agencies that manage significant Crown investments and assets, gaining greater autonomy as a result, while the Corrections and Education ministries gained a 'C' rating. More>>

ALSO:

Govt Goal: NZ To Be "Predator Free" By 2050

Prime Minister John Key has today announced the Government has adopted the goal of New Zealand becoming Predator Free by 2050... “That’s why we have adopted this goal. Our ambition is that by 2050 every single part of New Zealand will be completely free of rats, stoats and possums." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news