A National Public-Private Insurance Solution – The New Zealand Case Study

How does the second riskiest country in the world for natural perils have the fourth highest insurance penetration? Toka Tū Ake EQC (formerly the New Zealand Earthquake Commission) is a state entity providing building and land cover for earthquake, volcanic activity, tsunami, hydrothermal activity and landslides. Through taking the first tranche of risk from private insurers Toka Tū Ake helps to keep premiums affordable and properties insured and insurers in the market. It also purchases one of the largest reinsurance programmes in the world.
The presentation will take you through the why and how of the challenges Toka Tū Ake has faced, including the devasting Canterbury and Kaikoura earthquakes (four events featured in the world top 10 insured earthquake losses in the 40 years from 1980-2020), and how this innovative solution addresses the risks of a nation.
 
Find the Q&A here: Q&A on 'General Insurance and Society'