New Zealanders expect climate hazards to worsen and are increasingly concerned about obtaining insurance in the future, an IAG survey has found.

The poll of 1000 people found half were worried about no longer being able to afford house and contents insurance, and 44% fear no longer being offered cover.

“While New Zealanders think everyone has a role to play in reducing the impacts of climate change, they also say no one is doing a good enough job. They increasingly expect the government to take the lead,” IAG said in a report.

Poll respondents support measures to ensure development does not occur in high-risk locations, greater protection for existing assets and relocation where warranted.

“New Zealanders say that they are willing to accept the implications of these changes on their property and on what they are required to pay.

“All of this points to a desire for a more proactive and persistent approach to risk reduction, but it is not certain the country will make this choice.

“They certainly do not want the alternative: a world of growing risk and impacts, where insurance becomes out of reach, property values erode and people are left behind.”

IAG adds New Zealanders “don’t want to pay for other people’s risks” and prefer risk-based insurance pricing.

CEO of brands AMI, State and NZI Phil Gibson says the challenge is “not insurmountable”.

“It requires a clear strategy and senior political leadership to drive the change needed so that councils, businesses and households can get on and reduce the climate risks they face.” he said.

See the report here.