Darryl Lew: West Coast Regional Council CEO on the efforts to make insurance more competitive as AA stops offering new policies
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
West Coast officials are working to make the insurance market more competitive so Westporters can continue to insure their homes.
AA Insurance has temporarily stopped offering policies to properties in the 7825 postcode due to flood-risk exposure.
Existing policyholders can renew as usual.
Regional Council Chief Executive Darryl Lew told Ryan Bridge AA Insurance is the main insurer in the town, so have the largest market share.
He says they want to write to all insurance companies and the insurance council to try improve the market, given the investment they're making in flood banking.
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