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New fault line discovery ‘unlikely’ to affect insurance premiums

Insurance premiums in Wellington are unlikely to change with the discovery of a new earthquake fault.

While the Aotea fault line could cause quakes up to seven on the Richter scale, the likelihood of a big shake in the capital won’t change.

Insurance Council of New Zealand CEO Tim Grafton says it doesn’t change anything from an insurer’s point of view.

“The identification of this fault is within the risk factors that we already have known around the Wellington area in any event.”

– Newstalk ZB


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