Hon PAULA BENNETT to the Prime Minister: Does she stand by all her Government’s statements, policies, and actions? Hon JAMES SHAW to the Minister of Finance: Does he think that an independent Parliamentary Budget Office will improve the standard of democratic debate? Hon MARK MITCHELL to the Minister of Immigration: Does he stand by all his statements and actions in relation to Karel Sroubek? Hon DAVID BENNETT to the Minister of Corrections: Does he stand by his statement “We have never had to manage a prisoner like this before”, in relation to the alleged Christchurch gunman? Dr DUNCAN WEBB to the Minister responsible for the Earthquake Commission: What recent announcement has he made regarding quake-damaged homes in Canterbury? Hon Dr NICK SMITH to the Minister of Justice: Does he stand by all his statements, policies, and actions on electoral law and referenda? Dr SHANE RETI to the Minister of Health: Does he stand by all his statements, policies, and actions around vaccination? RINO TIRIKATENE to the Minister of Health: What progress, if any, has been made in modernising New Zealand’s fleet of air ambulances? Hon PAULA BENNETT to the Prime Minister: Does she stand by all her Government’s statements, policies, and actions? Dr SHANE RETI to the Minister of Education: Does he stand by all his statements, policies, and actions around the Reform of Vocational Education? GINNY ANDERSEN to the Minister of Commerce and Consumer Affairs: What reports has he seen about responses to the draft report of the Commerce Commission on the New Zealand fuel market? BRETT HUDSON to the Associate Minister of Transport: What is the petrol price exclusive of taxes and carbon charges assumed in the reference scenario in the preliminary cost-benefit analysis of the Clean Car Discount for August 2019, and how does this compare to the actual present petrol price exclusive of taxes and carbon charges?
The Canterbury earthquake sequence (2010-2011) was the most devastating catastrophe in New Zealand‘s modern history. Fortunately, in 2011 New Zealand had a high insurance penetration ratio, with more than 95% of residences being insured for these earthquakes. This dissertation sheds light on the functions of disaster insurance schemes and their role in economic recovery post-earthquakes. The first chapter describes the demand and supply for earthquake insurance and provides insights about different public-private partnership earthquake insurance schemes around the world. In the second chapter, we concentrate on three public earthquake insurance schemes in California, Japan, and New Zealand. The chapter examines what would have been the outcome had the system of insurance in Christchurch been different in the aftermath of the Canterbury earthquake sequence (CES). We focus on the California Earthquake Authority insurance program, and the Japanese Earthquake Reinsurance scheme. Overall, the aggregate cost of the earthquake to the New Zealand public insurer (the Earthquake Commission) was USD 6.2 billion. If a similar-sized disaster event had occurred in Japan and California, homeowners would have received only around USD 1.6 billion and USD 0.7 billion from the Japanese and Californian schemes, respectively. We further describe the spatial and distributive aspects of these scenarios and discuss some of the policy questions that emerge from this comparison. The third chapter measures the longer-term effect of the CES on the local economy, using night-time light intensity measured from space, and focus on the role of insurance payments for damaged residential property during the local recovery process. Uniquely for this event, more than 95% of residential housing units were covered by insurance and almost all incurred some damage. However, insurance payments were staggered over 5 years, enabling us to identify their local impact. We find that night-time luminosity can capture the process of recovery; and that insurance payments contributed significantly to the process of local economic recovery after the earthquake. Yet, delayed payments were less affective in assisting recovery and cash settlement of claims were more effective than insurance-managed repairs. After the Christchurch earthquakes, the government declared about 8000 houses as Red Zoned, prohibiting further developments in these properties, and offering the owners to buy them out. The government provided two options for owners: the first was full payment for both land and dwelling at the 2007 property evaluation, the second was payment for land, and the rest to be paid by the owner‘s insurance. Most people chose the second option. Using data from LINZ combined with data from Stats NZ, the fourth chapter empirically investigates what led people to choose this second option, and how peer effect influenced the homeowners‘ choices. Due to climate change, public disclosure of coastal hazard information through maps and property reports have been used more frequently by local government. This is expected to raise awareness about disaster risks in local community and help potential property owners to make informed locational decision. However, media outlets and business sector argue that public hazard disclosure will cause a negative effect on property value. Despite this opposition, some district councils in New Zealand have attempted to implement improved disclosure. Kapiti Coast district in the Wellington region serves as a case study for this research. In the fifth chapter, we utilize the residential property sale data and coastal hazard maps from the local district council. This study employs a difference-in-difference hedonic property price approach to examine the effect of hazard disclosure on coastal property values. We also apply spatial hedonic regression methods, controlling for coastal amenities, as our robustness check. Our findings suggest that hazard designation has a statistically and economically insignificant impact on property values. Overall, the risk perception about coastal hazards should be more emphasized in communities.
