Andy Horne: MinterEllisonRuddWatts Litigation and Insurance Partner on AA pausing new insurance policies for properties in Westport
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Andy Horne: MinterEllisonRuddWatts Litigation and Insurance Partner on AA pausing new insurance policies for properties in Westport
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There’s a belief there may come a point when insurers’ goodwill runs out in areas most exposed to climate risk.
AA Insurance has told Buller District Council it’s temporarily stopped offering new home and landlord cover in Westport due to flood risk, though existing policies can still be renewed.
MinterEllisonRuddWatts insurance partner Andy Horne told Mike Hosking it’s unusual for an insurer to be this open.
He says the reality is insurers are increasingly making risk-based decisions about where they’ll offer cover.
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