Tower adds landslide and sea surge risk pricing
But insurer says it won’t mean a bigger bill for most customers and it won’t ‘embargo areas’.
Cyclone Gabrielle damage in Hawke’s Bay in February 2023.
Listed insurance company Tower is adding additional risk ratings to premiums from today in an effort to be more transparent about future hazards.
Tower has introduced landslide and sea surge risk-based pricing. It first introduced risk-based pricing for earthquakes in 2018, followed by flooding in
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