Climate change and the Earthquake Commission (EQC)
Project Duration: May 2017 ‐ March 2019
Project Budget: $ 154,000 (GST exc)
Investigating past trends, future liabilities and an analysis of the impact of insurance in support of economic recovery after extreme weather events: Climate change is predicted to increase the frequency and magnitude of extreme weather events in NZ. These disasters can negatively affect the functioning of communities and regions as well as the long term sustainability of NZ’s public risk transfer mechanisms, including the EQC. Although the EQC’s main function is to support households affected by earthquakes, in some circumstances people affected by extreme weather events can also make claims to the EQC.
Since 1986, more than 17,000 claims have been paid by the EQC to households affected by non-earthquake disasters. In this project we study this claims dataset to answer three main research questions: (1) How has the EQC covered households over time and across regions after extreme weather events in NZ? (2) Is there evidence on how these payments have supported the economic recovery of affected households or communities? (3) Given climate change projections, what are the potential (weather-related) financial liabilities that the EQC might face in the future? By analysing EQC claims along with other data from Statistics NZ, GNS, and NIWA, we seek to answer these questions and provide a better understanding of the challenges that climate change can pose to local economies and for the Crown.
Latest news and updates
One Deep South Challenge project, within the Vision Mātauranga programme, has been exploring adaptation strategies to address climate change impacts on coastal Māori communities.
A new paper published in the 2016 edition of Weather and Climate - the journal of the Meteorological Society of New Zealand - documents the purpose, challenges, next steps and future goals of the NZESM, the New Zealand Earth System Model.
Recently, Deep South Challenge modellers met with experts from meteorological and research agencies in the UK, Australia, Korea, Philippines, India, USA, South Africa and New Zealand at a NIWA-hosted technical workshop on global climate modelling.