New Zealand's insurance market struggles with rising natural disaster risks, prompting uninsurable homes and insurer withdrawal from high-risk areas.

New Zealand's insurance market faces challenges due to rising natural disaster risks, leading to uninsurable homes and insurers pulling out of high-risk areas. Future-proofing home insurance requires public and private sector collaboration. Potential solutions include disaster-proofing homes, offering parametric insurance, co-insuring risks, and using catastrophe bonds to transfer insured risk to non-insurance entities. The UN's Intergovernmental Panel on Climate Change advises minimizing climate-related risks, and addressing housing costs may also help reduce financial impact of disasters.