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Images for insurance; more images...

Images, Alexander Turnbull Library

Text reads 'The new liquefaction?...' and the cartoon depicts a huge mass of 'insurance red tape' inside which is a man with a spade. Two people stare despairingly at the red tape and the man says 'How are we EVER gonna rebuild with this stuff bubbling up!' Context: The people are trying to rebuild their house after the Christchurch earthquakes and are having trouble with their insurance company. The Press has been contacted by people unable to get insurance to buy new homes, construct buildings or start businesses. Business leaders have called insurance delays a "cancer" eating away at the city's recovery, and Earthquake Recovery Minister Gerry Brownlee has acknowledged insurance is an "ongoing problem". (The Press - 24 August 2011) Quantity: 1 digital cartoon(s).

Research papers, Victoria University of Wellington

We aim to investigate the role of insurance in business recovery following the devastating Christchurch earthquake in February, 22nd, 2011. We analyze data from two business surveys conducted after the earthquake to examine how insurance affected business operation in the aftermath of the earthquake both in the short-term and longer-term. For the short-term analysis, we use a combination of propensity score matching (PSM) and linear probability model (LPM) to analyze the data. We first estimate the propensity scores for insurance take-up of each firm conditional on the firm’s individual characteristics. Stratification based on the estimated propensity scores is used to match the treated (insured) and the control (uninsured) firms. We then estimate the probability of firms’ continuing operations with a set of control variables to account for the level of damage and disruption caused by the quake in each stratum. We find little evidence of any beneficial effect of insurance coverage on business continuity in the short-run. For the longer-term analysis, we analyze the available survey data using logistic regression. The result suggests that business interruption insurance significantly promotes increased level of long-term productivity for surviving firms following the earthquake.

Images, Alexander Turnbull Library

A man representing 'Chch' (Christchurch) walks a tightrope between two cliffs. Suddenly below there are piles of dollar notes from the 'AMI' and he says 'A safety net at last!' Context - Christchurch earthquake problems with insurance. Insurers are saying that they will only pay for repairs for houses in the Red zone that are destined for demolition but that are relatively undamaged. Maybe the cartoon is expressing an ironic response to AMI's 'total replacement' policy. Quantity: 1 digital cartoon(s).

Audio, Radio New Zealand

A Christchurch man has ditched his home insurance after his premiums went up $1000, or 30% a year based on new risk pricing. Tower insurance has taken into account the risk of sea surge and landslips for the Burwood home, as well as earthquakes and flooding. But Trevor Taylor says his home is several kilometres from the sea and he can't fathom the insurer Tower's sea surge assessment. Trevor Taylor spoke to Lisa Owen.

Images, Alexander Turnbull Library

Cartoons about political and social issues in New Zealand and overseas. The cartoon has the words 'Tsunami Warning cancelled' in the centre. Above are the words 'The end is nigh... insurance running out! No more cover!' Below the word 'cancelled' are the words 'We have reinsurance!' Context - Civil Defence has cancelled a tsunami warning after a 7.8 magnitude earthquake struck off the Kermadec Islands this morning (7 July 2011) The tsunami image is used to illustrate the problems that could arise from lack of insurance in Christchurch. When their policies run out on 30 June Earthquake-hit Christchurch and Waimakariri councils are in danger of having no property insurance because as the CEO of Civic Assurance, which insures most councils, says, 'the company cannot buy reinsurance'. There was also a potential problem for home-owners when AMI Insurance, the largest insurer of homes in Christchurch, was threatening insolvency. However, AMI has announced that it has re-insurance cover for earthquakes and other natural disasters from tomorrow (1 July 2011) for the next year. The Government feared AMI Insurance's directors would wind up the company affecting a huge section of New Zealand's insurance market and derail the reconstruction of Christchurch, official documents confirm. AMI said it had doubled its cover for the year to June 2012 after three large quakes in the year to June 2011. (Stuff 30 June 2011) Quantity: 1 digital cartoon(s).

Images, Alexander Turnbull Library

A rat in a business suit representing 'insurance companies' carries a briefcase labelled 'Total replacement policies' and follows a fellow rat into a large hole 'loop holes' that leads into a collapsed building. The rat says 'Woo-hoo! Home sweet home!' Context - Problems for people whose houses were damaged in the Christchurch earthquakes. One of the options presented to residents in the red zone, ideal for people with replacement policies, was the government bought your land, and you dealt directly with your insurers about your house. However they got a shock when insurers told them they won't replace their homes, they'll only repair them, even though they're earmarked for certain demolition. Quantity: 1 digital cartoon(s).