73 months after the earthquake that damaged it, the jetty at South New Brighton Domain is still not repaired. Seven years ago it was straight and level. Dull, flat and orrible (horrible) light meant this image was destined to become monochrome!
The capital has a tight rental accommodation market, and the peak demand season is just a few weeks from beginning. One prospective Wellington flat hunter, who'd experienced the Christchurch earthquake - including knowledge of the collapse, or partial collapse, of 3 buildings he'd previously lived in - has contacted us, frustrated at the lack of information available from landlords or letting agencies. What rights to information do tenants have?
Christchurch has its own social superhero and he's gone cap in hand to the council for funding. The self-styled lycra-clad superhero, known only at 'Flat Man', has been dropping care packages to people since the 2011 Canterbury earthquake. He also wants to be able to help schoolkids and anxious and stressed residents through their troubles. And to do this, he's now asking the Christchurch City Council for funding. He joins us now, and says "a cape is a must".
Six ½ years after the earthquakes there are still a few demolitions taking place. This one is a block of council owned flats. Whether the whole complex is being demolished or not I don't know., but here the centre block of three is being demolished. The green grass is what was sections and houses demolished in 2012-2015 as it is too close to t...
Tax, water and housing concerns were all debated at length by Bill English and Jacinda Ardern in last night's TVNZ leaders debate. The debate came just an hour after shock 1 News Colmar Brunton poll put Labour out in front. There have been fires and explosions at a flood damaged chemical plant near Houston forcing the evacuation of people in nearby homes. A block of flats in Aro Street has been evacuated after a large slip has come down behind it. After heavy rains and flooding a Mumbai building has collapsed, killing at least 23 people. Biosecurity officials say they expect to decide by the end of the year whether they will need to order the destruction of dairy herds to wipe out a cow disease that's broken out in the South Island. It's been revealed that not a single one of New Zealand's 315 police buildings constructed before 2011 have had a full earthquake safety check. People who've bought houses in Canterbury since the September 2010 earthquake and are still battling with insurance companies over repairs, have been told that if they want to take the matter to court, today is their last chance. The Government has begun urgent talks with Australia over the Queensland's state government's "discriminatory" trade policy which takes effect today. Trade Minister Todd McClay joins us.
We present initial results from a set of three-dimensional (3D) deterministic earthquake ground motion simulations for the northern Canterbury plains, Christchurch and the Banks Peninsula region, which explicitly incorporate the effects of the surface topography. The simu-lations are done using Hercules, an octree-based finite-element parallel software for solving 3D seismic wave propagation problems in heterogeneous media under kinematic faulting. We describe the efforts undertaken to couple Hercules with the South Island Velocity Model (SIVM), which included changes to the SIVM code in order to allow for single repetitive que-ries and thus achieve a seamless finite-element meshing process within the end-to-end ap-proach adopted in Hercules. We present our selection of the region of interest, which corre-sponds to an area of about 120 km × 120 km, with the 3D model reaching a depth of 60 km. Initial simulation parameters are set for relatively high minimum shear wave velocity and a low maximum frequency, which we are progressively scaling up as computing resources permit. While the effects of topography are typically more important at higher frequencies and low seismic velocities, even at this initial stage of our efforts (with a maximum of 2 Hz and a mini-mum of 500 m/s), it is possible to observe the importance of the topography in the response of some key locations within our model. To highlight these effects we compare the results of the 3D topographic model with respect to those of a flat (squashed) 3D model. We draw rele-vant conclusions from the study of topographic effects during earthquakes for this region and describe our plans for future work.
SARAH DOWIE to the Minister of Finance: What reports has he received on New Zealand’s trade exports? EUGENIE SAGE to the Minister for Land Information: Has he asked Land Information New Zealand to withdraw the 997-hectare Riversdale Flats from the proposed sale of Mt White Station pastoral lease; if not, why not? PHIL TWYFORD to the Minister for Social Housing: Will she confirm that as of 30 June the Government has only delivered 323 of the additional 1,400 emergency beds they promised at the start of November last year? STUART SMITH to the Minister of Transport: What update can he provide on the reinstatement of State Highway 1 following the Kaikōura earthquakes? STEFFAN BROWNING to the Minister for the Environment: Does he have confidence in the Environmental Protection Authority’s review of glyphosate? Dr DAVID CLARK to the Minister of Health: Does he support the establishment of a cross-agency working group with Canterbury District Health Board on their finances, funding, and facilities? DAVID SEYMOUR to the Minister of Health: Does he stand by all his answers to Oral Question No. 6 on 6 June regarding intraoperative radiotherapy for breast cancer? BARBARA KURIGER to the Minister of Immigration: What recent announcements has he made in relation to immigration settings? Hon NANAIA MAHUTA to the Minister for Treaty of Waitangi Negotiations: Does he believe that the signing of the Pare Hauraki Collective Settlement with the inclusion of redress disputed by Tauranga Moana iwi is a breach of Te Tiriti o Waitangi? CHRIS BISHOP to the Associate Minister of Education: What recent announcements have the Government made on school property in the Wellington region? PITA PARAONE to the Minister for Māori Development: Does he stand by all his statements; if so, why? JENNY SALESA to the Minister of Education: Is she satisfied that the Government is doing all that it can to ensure an adequate supply of teachers, particularly in Auckland?
In September 2010 and February 2011, the Canterbury region experienced devastating earthquakes with an estimated economic cost of over NZ$40 billion (Parker and Steenkamp, 2012; Timar et al., 2014; Potter et al., 2015). The insurance market played an important role in rebuilding the Canterbury region after the earthquakes. Homeowners, insurance and reinsurance markets and New Zealand government agencies faced a difficult task to manage the rebuild process. From an empirical and theoretic research viewpoint, the Christchurch disaster calls for an assessment of how the insurance market deals with such disasters in the future. Previous studies have investigated market responses to losses in global catastrophes by focusing on the insurance supply-side. This study investigates both demand-side and supply-side insurance market responses to the Christchurch earthquakes. Despite the fact that New Zealand is prone to seismic activities, there are scant previous studies in the area of earthquake insurance. This study does offer a unique opportunity to examine and document the New Zealand insurance market response to catastrophe risk, providing results critical for understanding market responses after major loss events in general. A review of previous studies shows higher premiums suppress demand, but how higher premiums and a higher probability of risk affect demand is still largely unknown. According to previous studies, the supply of disaster coverage is curtailed unless the market is subsidised, however, there is still unsettled discussion on why demand decreases with time from the previous disaster even when the supply of coverage is subsidised by the government. Natural disaster risks pose a set of challenges for insurance market players because of substantial ambiguity associated with the probability of such events occurring and high spatial correlation of catastrophe losses. Private insurance market inefficiencies due to high premiums and spatially concentrated risks calls for government intervention in the provision of natural disaster insurance to avert situations of noninsurance and underinsurance. Political economy considerations make it more likely for government support to be called for if many people are uninsured than if few people are uninsured. However, emergency assistance for property owners after catastrophe events can encourage most property owners to not buy insurance against natural disaster and develop adverse selection behaviour, generating larger future risks for homeowners and governments. On the demand-side, this study has developed an intertemporal model to examine how demand for insurance changes post-catastrophe, and how to model it theoretically. In this intertemporal model, insurance can be sought in two sequential periods of time, and at the second period, it is known whether or not a loss event happened in period one. The results show that period one demand for insurance increases relative to the standard single period model when the second period is taken into consideration, period two insurance demand is higher post-loss, higher than both the period one demand and the period two demand without a period one loss. To investigate policyholders experience from the demand-side perspective, a total of 1600 survey questionnaires were administered, and responses from 254 participants received representing a 16 percent response rate. Survey data was gathered from four institutions in Canterbury and is probably not representative of the entire population. The results of the survey show that the change from full replacement value policy to nominated replacement value policy is a key determinant of the direction of change in the level of insurance coverage after the earthquakes. The earthquakes also highlighted the plight of those who were underinsured, prompting policyholders to update their insurance coverage to reflect the estimated cost of re-building their property. The survey has added further evidence to the existing literature, such as those who have had a recent experience with disaster loss report increased risk perception if a similar event happens in future with females reporting a higher risk perception than males. Of the demographic variables, only gender has a relationship with changes in household cover. On the supply-side, this study has built a risk-based pricing model suitable to generate a competitive premium rate for natural disaster insurance cover. Using illustrative data from the Christchurch Red-zone suburbs, the model generates competitive premium rates for catastrophe risk. When the proposed model incorporates the new RMS high-definition New Zealand Earthquake Model, for example, insurers can find the model useful to identify losses at a granular level so as to calculate the competitive premium. This study observes that the key to the success of the New Zealand dual insurance system despite the high prevalence of catastrophe losses are; firstly the EQC’s flat-rate pricing structure keeps private insurance premiums affordable and very high nationwide homeowner take-up rates of natural disaster insurance. Secondly, private insurers and the EQC have an elaborate reinsurance arrangement in place. By efficiently transferring risk to the reinsurer, the cost of writing primary insurance is considerably reduced ultimately expanding primary insurance capacity and supply of insurance coverage.