Aotearoa New Zealand must not lose the opportunity to build back better from the catastrophic extreme weather events of
the past two weeks, says the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ).
"Repairing and rebuilding property and infrastructure in high-risk areas to the same specifications as the past will
only lead to a repeat of the dreadful consequences we have all seen. Indeed, it could be worse with more extreme and
frequent weather events as a result of climate change," ICNZ Chief Executive Tim Grafton says.
"Now is the moment to reset and ask questions about whether to rebuild in some locations and if we do how to rebuild
better to better protect ourselves."
"Most communities have infrastructure built decades ago that may have been fit for the hazards of the time, but are now
demonstrably inadequate. Massive and sustained investment is required to address that."
But every dollar invested in risk reduction will save many more dollars in future economic costs, keep people safer and
reduce the stress, trauma and loss to the community from similar event in future.
"Future development needs to take a long view - houses are built to last 50 years or more. It is time to draw a very
clear line in the sand and not consent to build in dumb places and in a way that can’t cope with what’s to come."
ICNZ spoke today Parliament’s Environment Select Committee considering the Natural and Built Environment Bill which,
amongst other matters, contains draft provisions to reduce risks from natural hazards as a condition of rebuilding after
a disaster. Unfortunately, this legislation does not fully come into effect for several years.
The question that should be asked now is whether we can afford to wait till this Bill and accompanying legislation to
replace the RMA, the Spatial Planning and Climate Change Adaptation Bills, take effect.
ICNZ advised the Select Committee that the insured losses from the recent extreme weather events would exceed the
comparable losses for all of 2022 which was a record year for insured losses from extreme weather. Total economic losses
from recent climate events will run into the billions of dollars.