Wellington Scoop

Insurance forum discusses rising cost of premiums

News from Wellington City Council
Wellington Mayor Justin Lester will host a forum on Monday to discuss issues the city, and others, face with insurance industry changes and rising premiums.

More than 100 people, representing the insurance industry, banks, regional councils, government officials, body corporates, property developers and others will attend. Speakers include Ministers Kris Faafoi and Megan Woods.

The Mayor announced plans for the summit in late April.

“The interest in attending has been huge, which shows how important this is to those involved and affected.

“We have seen some fast-moving changes in the Wellington insurance market, with some insurers switching to risk-based premiums, which will affect Wellingtonians’ ability to insure. Body corporates have been particularly affected.

“I hope the forum will highlight the immediate issues and potentially ways to address them. It may also discuss the appropriateness of regulation for the national market and consistency,” the Mayor says.

“A city must have insurance and be able to afford it. Banks won’t lend without it, businesses need it to operate, and people simply need it for peace of mind.”

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1 comment:

  1. Concerned Wellingtonian, 9. June 2019, 10:45

    What about some concern about the danger of wooden buildings being burned down?