media release
8 October 2014
New Wellington Fault Unlikely to Impact on Insurance Premiums
The discovery of a new fault in Wellington is unlikely to have any impact on insurance premiums for homeowners and
businesses, according to the Insurance Council of New Zealand.
NIWA today announced the discovery of a new active fault in Wellington Harbour after analysing data from a recent marine
survey. The Aotea Fault is part of a series of several dozen geological faults in the Wellington region, many of which
are considered capable of generating a strong earthquake.
However, scientists say the fault does not increase Wellington’s earthquake risk in any appreciable way and that any
ground-shaking the Aotea fault could produce is already considered in Wellington’s seismic hazard calculations and
accounted for in the building code.
“The scientific reassurances that the Aotea fault doesn’t dramatically increase Wellington’s earthquake risk appreciably
will mean it’s unlikely there will be any impact on insurance premiums,” says ICNZ Chief Executive Tim Grafton.
“This type of research is welcomed as it gives the territorial authorities a better understanding for planning and
construction of infrastructure across the fault,” says Mr Grafton.
ENDS