Shaken, Not Stirred

In a remarkable and yet largely unheralded piece off legislation, the New Zealand government has reshaped national provisions for earthquake insurance. Three major sets off issues emerge from the 1993 Earthquake Commission Act and warrant detailed investigation. The A ct will encourage significant changes in patterns of regional development in New Zealand, it heralds a simultaneous globalisation and localisation of earthquake risk through the mechanism of insurance and it gives new regulatory powers to insurers in New Zealand society.