New Zealand: Country is ranked second riskiest in the world
Source: Asia Insurance Review | Dec 2018
New Zealand is ranked as the second riskiest country in the world in a major international study released by Lloyd’s of London.
Insurance Council of New Zealand chief executive Tim Grafton said, “This report shows how risky New Zealand really is.”
He added, “As a risky country, it’s important we remain well-insured. That means not only ensuring we insure our assets but making sure coverage of those assets is sufficient to replace them. Fortunately, New Zealanders understand the value of insurance and demonstrate this in consistently high uptake levels.”
“It’s important to note that although we have relatively high insurance penetration rates, that doesn’t mean all our assets are adequately insured,” said Mr Grafton. New Zealand has the fourth highest rate of insurance penetration globally.
“It’s possible that people are underestimating the cost to replace their assets, which could leave them vulnerable should another major disaster strike.” A