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Chunks of NZ are becoming very expensive to uninsurable, and extreme impact weather events are getting more frequent. It would be fair say a good portion of th
by RowanH 1y ago
Chunks of NZ are becoming very expensive to uninsurable, and extreme impact weather events are getting more frequent.
It would be fair say a good portion of the population don't understand the maths of a weather event just how astronomically expensive a sudden flood is.
In our small town in the last 5 years, we've had 2-3 different "1 in 100 year" floods within 30km of each other (highly localised dramatic flooding and slips). To the point "1 in 100 year" is now a standing joke.
- ViscountPenguin 1y agoWhen did the council last revise your flood models? Up here in Queensland, it caused a real stir when the council released updated flood models and lots of "1/1000" year flood houses turned into "1/10"
- RowanH 1y agoI don't know. Certainly the frequency and severity is just eye opening. We had 2 1 in 50's with 1 in 100 in 3 weeks (!!!). I know you guys have also had it bad over there. I expect the insurance companies will start removing flood cover soon. Which then becomes a bit of a shit show with mortgages. Or will raise the premiums so high that they're effectively uninsurable.
- _carbyau_ 1y agoBrisbane had cyclone Alfred that caused a major panic with ~100km-ish winds. A friend went to visit NZ and 100km/hr winds was just another day...