Hon JUDITH COLLINS to the Prime Minister: Does she stand by all her Government’s statements and actions?
HELEN WHITE to the Minister of Finance: What recent reports has he seen on the New Zealand economy?
Hon PAUL GOLDSMITH to the Minister of Education: Does he stand by all his statements and policies on education?
GINNY ANDERSEN to the Minister of Housing: What recent announcements has she made about the Government’s transitional housing programme?
NICOLA WILLIS to the Minister of Housing: Has the Government kept the commitment made in the 2017 Speech from the Throne to develop a ‘Rent to Own’ scheme; if so, how many families has the scheme helped into houses since then?
ANAHILA KANONGATA'A-SUISUIKI to the Minister for Social Development and Employment: What support has the Ministry of Social Development provided to people and families affected by recent COVID-19 restrictions?
NICOLE McKEE to the Minister of Police: Will Government actions reduce gang crime and gang numbers this year?
IBRAHIM OMER to the Lead Coordination Minister for the Government's Response to the Royal Commission's Report into the Terrorist Attack on the Christchurch Mosques: What recent engagement has there been with the Muslim and other ethnic communities on the Royal Commission of Inquiry into the terrorist attack on Christchurch masjidain?
SIMEON BROWN to the Minister of Police: Does she stand by her commitment to achieve the Striving Towards 1800 New Police initiative; if so, when will she achieve this initiative?
TEANAU TUIONO to the Minister for Economic and Regional Development: What advice, if any, has he received about the upcoming launch in New Zealand of a satellite that includes the “Gunsmoke-J” payload from the United States Army’s Space and Missile Defense Command?
MARJA LUBECK to the Minister for Workplace Relations and Safety: What recent announcements has he made about improving the Holidays Act 2003?
TIM VAN DE MOLEN to the Minister for Building and Construction: How many applications has the Residential Earthquake-Prone Building Financial Assistance Scheme had since its inception in September last year, and how much has been appropriated for the scheme?
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.
