The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) support the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa (ICNZ)’s urge for increased action to address climate change following the recent Climate Change Commission report.

The Commission has found that current efforts to mitigate climate change are inadequate and are lagging behind the growing risks posed by climate change.

In response, ICNZ is urging for a coordinated response to address climate change, emphasising the need for government frameworks guiding climate action, improved community planning and evaluating adaptation costs.

In the wake of increasingly frequent, extreme weather events such as Cyclone Gabrielle and the Auckland anniversary floods, ANZIIF recognise the need for more robust climate action and management of climate risks.

ANZIIF acknowledges the far-reaching impacts of climate change on New Zealand’s economy, public safety, and environment. Addressing this issue is vital to ensuring the wellbeing of people, businesses, and communities.

Insurance professionals play a pivotal role in safeguarding the community against climate risks. By educating clients and providing appropriate coverage for climate-related events, they help maintain the public’s financial stability, resilience, and peace of mind.

ANZIIF offer a range of resources to keep insurance professionals informed and prepared to address climate-related challenges. This includes the webinar What Does a Climate Ready Insurer Look Like?, and the Q&A follow-up session, both of which have been made publicly available to view until Tuesday the 24th of September.

“Climate change has significantly contributed to the weather events that we have experienced over the last two years. The impact this has had on insurance professionals is notable as they face new challenges both with placement of policy and at claim time”, says ANZIIF CEO, Katrina Shanks.

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