Wellington [New Zealand], July 1: New Zealand's Natural Hazards Insurance Act, which came into force on Monday, will further protect homeowners' rights after a natural hazard event, ensuring they get reliable insurance cover and claims paid efficiently, so they can recover and move on with their lives in natural disasters.
"Unfortunately, Kiwis have suffered through their fair share of adverse events in recent years," said Associate Finance Minister David Seymour.
These changes have been informed by events like the Christchurch earthquake in 2010 and 2011 and recommendations from the Public Inquiry into the Earthquake Commission (EQC), as well as feedback provided from the experience of claimants, Seymour said.
The new law introduces a number of procedures intended to improve the homeowner experience, including a Code of Insured Persons' Rights and access to an independent dispute resolution service.
The EQC becomes the Natural Hazards Commission so as to support more resilient communities through having a greater role in sharing information, knowledge and expertise on natural hazard risk management, he said.
Record downpours and floods brought by extreme weather events hit New Zealand more frequently in recent years, claiming at least 11 people in the first two months of 2023.
Source: Xinhua
