The initiative could redirect NZ$600-700m (US$360-420m) annually towards natural hazard risk reduction while shifting fire services funding to the Crown.
As mainland Southeast Asia braces for a potential return of El Niño in 2026–27, SEADRIF and the FAO have rolled out an index-triggered drought insurance pilot in Laos.
China's insurers have paid or advanced 210m yuan (US$29m) to policyholders as the NFRA orders fast-track claims handling following floods and landslides across six regions.
