Projecting the effect of climate change on residential property damages caused by extreme weather events
Journal of Environmental Management (2020)
New Zealand’s public insurer (EQC) provides residential insurance for weather extremes. The expected increase in the frequency of extreme weather will translate into more damage. Using climate projections, we project the impact of future extreme events on EQC liabilities. We find a climate change signal between 7 and 8% for 2020–2040 and 9–25% for 2080–2100.