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The Insurance Council plays an active role in representing the insurance industry. Its members are all licensed under the Insurance (Prudential Supervision) Act 2010 and are signatories to the Fair Insurance Code that requires insurers to act ethically. The Council also performs an important role in informing and educating consumers about key insurance issues and risks.
New Zealand is a volcanic island nation in the Pacific rim and we are vulnerable to natural disasters. NZ vulnerability is evident in its history and the Canterbury earthquakes have proven its need for insurance against natural disasters.
In times of understandable frustration it is easy to overlook the scale and speed of the recovery response and the honest work of insurers to settle claims in an enormously complex situation. ICNZ work is to settle claims under the terms of policies in place at the time of the earthquake. ICNZ has the support and trust of reinsures who are urging insurers to settle quickly.
The Sendai Framework Voluntary Commitments (SFVC) online platform allows stakeholders to inform the public about their work on DRR. The SFVC online platform is a useful toolto know who is doing what and where for the implementation of the Sendai Framework, which could foster potential collaboration among stakeholders. All stakeholders (private sector, civil society organizations, academia, media, local governments, etc.) working on DRR can submit their commitments and report on their progress and deliverables.