New Zealand earthquake bill introduced

The New Zealand government has introduced a bill to facilitate the claims process after a natural disaster.

The Natural Hazard Insurance Bill is said to make the rules for mixed and mixed-use buildings clearer, clarify regulations for repairing buildings and land after a landslide or other damage to the land, and simplify the bypasses and accounts for retaining walls, bridges and canals. .

Plaintiff code and permanent dispute resolution service will also be offered.

Rep. David Clark, Minister responsible for the Earthquake Commission (EQC), which is introducing the bill, recalled the 2011 earthquake in Canterbury, New Zealand, saying that citizens would not go through “the same traumatic experiences” again.

Clark said: “The Natural Hazard Insurance Bill takes into account the important lessons we have learned over the past decade. It simplifies and clarifies existing earthquake commission law and includes a number of recommendations from the public inquiry of Ms. Sylvia Cartwright.”

The bill’s introduction comes about two months after the EQC announced its projection of its new loss modeling capability to enhance its ability to plan for and respond to future natural disasters when they occur.

As reinsurance news reported at the time, EQC was using GNS Science and the NIWA risk tool to model damage and losses from earthquakes. The new modeling software will allow the organization to channel its research and insurance data into its own risk models, creating an increasingly comprehensive picture after the event, as well as improving EQC’s ability to model and plan for future disasters.

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