Dire predictions about the death of books and of publishing in this country with the advent of e-books and the amalgamation of big publishing houses have proved to be way off the mark. One of the standout publishers to have emerged is Wellington's BWB - Bridget Williams' Books - with its focus on New Zealand non-fiction and championing of the topical essay. Titles in their popular BWB text series include The New Zealand Project by Max Harris, Holly Walker's The Whole Intimate Mess, and Antibiotic Resistance by Dr Siouxsie Wiles. Their latest publications include The Expatriates by expat Martin Edmond, and Paul Gorman's take on the Canterbury Earthquakes - Portacom City.
We examine the role of business interruption (BI) insurance in business recovery following the Christchurch earthquake in 2011. First, we ask whether BI insurance increases the likelihood of business survival in the immediate (3-6 months) aftermath of a disaster. We find positive but statistically insignificant evidence that those firms that had incurred damage, but were covered by BI insurance, had higher likelihood of survival post-quake compared with those firms that did not have any insurance. For the medium-term (2-3 years) survival of firms, our results show a more explicit role for insurance. Firms with BI insurance experience increased productivity and improved performance following a catastrophe. Furthermore, we find that those organisations that receive prompt and full payments of their claims have a better recovery than those that had protracted or inadequate claims payments, but this difference between the two groups is not statistically significant. We find no statistically significant evidence that the latter group (inadequate payment) did any better than those organisations that had damage but no insurance coverage. In general, our analysis indicates the importance not only of adequate insurance coverage, but also of an insurance system that delivers prompt claim payments.
This is a post-peer-review, pre-copyedit version of an article published in 'The Geneva Papers on Risk and Insurance - Issues and Practice'. The final authenticated version is available online at: https://doi.org/10.1057/s41288-017-0067-y. The following terms of use apply: https://www.springer.com/gp/open-access/publication-policies/aam-terms-of-use.
