New Zealand Hazard Risk and Economic Exposure Highlighted by Researchers

Researchers across New Zealand universities have noted that natural hazards, including floods, earthquakes, and wildfires, present a significant challenge to the nation's economy and wellbeing. The reports state that the 2023 Auckland anniversary weekend floods alone resulted in over NZ$2 billion in insured losses. Climate change and ongoing development are expected to increase this exposure and risk.

Natural hazards affect the economy through infrastructure damage, disruption, and adverse health effects, costs that extend beyond insured claims. Political decisions regarding adaptation strategies will have tangible consequences on how often hazards become disasters and how severe their impacts are.