Insurance Expert On Premiums After Christchurch Quake

Insurance could become so expensive or even unavailable for some after the Christchurch earthquake that it may cast doubt over some rebuilding in the city.  Commercial property owners who under-insured their properties may affect the quality of the replacement buildings and the look of the new city rising from the rubble.  The insurance industry is well placed to cope with the deluge of claims from the quake, but the size of the disaster bill will almost certainly lead to much higher premiums for all home owners, experts say.

Insurance expert at law firm DLA Philips Fox, Crossley Gates, says insurance could become extremely expensive, as was the case in a number of other high-risk regions like California, Japan and Turkey, and may in some cases not be available.  That could have enormous implications for rebuilding the city, Mr. Gates says.

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About Karen Olson

Information Professional with twenty years experience in legal, public record, and business research. Fifteen years law firm experience.

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