The major storm surge and coastal flooding in Wellington earlier this month was another reminder that the sea is now lapping close to a lot of New Zealand’s front doors. The ominous question is: who will pay when it crosses the threshold?
But that’s not a question worrying insurance companies. They’ve made their position clear they won’t be paying for it.
Insurance is based on uncertainty and is reevaluated annually. When the chance of damage rises beyond what an insurance company is prepared to bear, it withdraws.
This leaves at-risk homeowners with no insurance, either private or through the state’s Earthquake Commission. In the meantime, homeowners will likely continue to pay rising premiums, possibly unaware of the tenuous nature of their coverage.
Mon, 12 Jul 2021, 01:22 01:22 AM | BY: EARTHQUAKEMONITOR
4.3 quake 12 Jul 1:12 pm (GMT +12)
A magnitude 4.3 earthquake near Te Anau, Southland District, Southland, New Zealand, was reported only 8 minutes ago by New Zealand s Earthquake Commission and Geological Survey (GeoNet), considered the main national agency that monitors seismic activity in New Zealand. The earthquake occurred at an intermediate depth of 106.3 km beneath the epicenter around noon on Monday 12 July 2021 at 1:12 pm local time. The exact magnitude, epicenter, and depth of the quake might be revised within the next few hours or minutes as seismologists review data and refine their calculations, or as other agencies issue their report.
Mon, 12 Jul 2021, 03:52 03:52 AM | BY: EARTHQUAKEMONITOR
3.8 quake 11 Jul 7:43 pm (GMT -8)
An earthquake of magnitude 3.8 occurred early evening on Sunday 11 July 2021 at 7:43 pm local time near Eureka, Humboldt County, California, USA, as reported by the United States Geological Survey.
According to preliminary data, the quake was located at a very shallow depth of miles. Shallow earthquakes are felt more strongly than deeper ones as they are closer to the surface. The exact magnitude, epicenter, and depth of the quake might be revised within the next few hours or minutes as seismologists review data and refine their calculations, or as other agencies issue their report.
Mon, 12 Jul 2021, 05:01 05:01 AM | BY: EARTHQUAKEMONITOR
3.1 quake 11 Jul 6:50 pm (GMT -10)
Just 9 minutes ago, a 3.1-magnitude earthquake struck near Hilo, Hawaii County, Hawaii, USA. The tremor was recorded early evening on Sunday 11 July 2021 at 6:50 pm local time, at a moderately shallow depth of 19 miles below the surface.
The event was filed by the United States Geological Survey, the first seismological agency to report it.
A second report was later issued by the European-Mediterranean Seismological Centre (EMSC), which listed it as a magnitude 3.7 earthquake.
According to preliminary calculations, we do not expect that the quake was felt by many people and did not cause any damage. In Pāhala (pop. 1,400, 7 miles away), Volcano Village (pop. 2,600, 16 miles away), Fern Acres (pop. 1,500, 26 miles away), Mountain View (pop. 3,900, 27 miles away), Hawaiian Ocean View (pop. 4,400, 28 miles away), Hawaiian Acres (pop. 2,700, 29 miles away), Hawaiian Paradise Park (pop. 11,4
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