How long will insurers stick with Petone?
How long will Petone retain insurance? The spotlight is on the seaside suburb of Petone and insurance after a conference of industry heavyweights in Auckland recently.
Bryce Davies, executive manager of corporate relations for IAG NZ said that Petone could not be protected from rising seas and would be under water by the middle of this century. His comments have been interpreted by some as meaning IAG was withdrawing from Petone.
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