PHOTO: TOM LEE/STUFF Will ‘The Tron’ finally get some credit? Climate economist Belinda Storey says cities with stable climate hazards may become more attractive in the future.
Saddled with the weight of its moniker “the city of the future”, encroaching seas may lend Hamilton’s tired nickname its due.
Instead of automatically clinging to the country’s edges, basing our lives at the foot of waves, New Zealand’s often derided inland cities, like Hamilton – even Palmerston North – may become more attractive as the perils of climate change hit our coastal centres.
In July, insurance company IAG, which owns AMI, NZI, State Insurance and insures 1.7 million New Zealanders, will move to more risk-based pricing.
Insurance companies have always priced on risk, but they can now take a more detailed approach to pricing, with more data available to assess risk on a property by property basis, Insurance Council chief executive Tim Grafton said.
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