Plan promises a proactive approach to disaster risk reduction including improved early warning systems and reviews of building codes and insurance levy arrangements.
Industry loss estimate increases to NZD 2.174bn (US$1.33bn); contributing to record NZ$4.4bn in losses when combined with Auckland Anniversary Weekend Floods.
With efforts to improve profitability and a strong capital position, Japan's GI industry received a stable outlook despite nat cat and macroeconomic challenges.