A blog post about Insurance?

A blog post about insurance is not very exciting but I feel compelled to share this.

But after the multiple Christchurch earthquakes, New Zealand is having hard time getting companies to provide insurance.

After paying out billions,  insurance and reinsurance companies are saying: "no more".

So Christchurch now has no insurance coverage for about 2 billion dollars of its 4.2 billion dollar property portfolio.

This means (heaven forbid) any more nasty earth movements puts the city in an awful situation. I guess the NZ government would stump up for the costs if forced but "acting Prime Minister Bill English said the Government will do what it can to help out, but "it's not the Government's intention to replace insurance companies."


One more tough situation for Christchurch.

Liquefaction at AMI Stadium

Finally, a bizarre story:
AMI Stadium is the main sports arena in Christchurch. Massively damaged in the quakes, it is unusable and now uninsurable.  The turf in the Stadium was not insured by its owners, the Council owned Venues company. AMI who had the naming rights for the stadium is one of New Zealand's major insurers. Surely an insurance company sponsor  should have checked what they were sponsoring was insured?