Continuous aftershocks plague New Zealand spells out bad news for insurers

Several months after a destructive earthquake struck New Zealand, the city of Christchurch is still plagued by violent aftershocks. According to Chris Ryan, head of the Insurance Council of New Zealand, the persistent aftershocks bode ill for the nation’s insurers. Ryan is warning citizens to prepare for dramatic changes coming to the insurance industry as many companies begin to see New Zealand as a high-risk nation.  Many of the insurance companies operating in the nation, particularly property insurers have been ramping up rates in an effort to recoup their losses…

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