From 1 July 2024, new governing legislation, the Natural Hazards Insurance Act 2023 came into effect. This Act modernises and replaces the Earthquake Commission Act 1993, and sets the primary objective, to reduce the impact of natural hazards on people, property and the community.

With extreme weather and claims for natural hazards on the rise, the new Act supports New Zealand maintaining access to residential property insurance.

The Natural Hazards Insurance Act takes into account lessons learnt from the Canterbury earthquake sequence, the Kaikōura earthquake, and other natural hazard events, as well as the Public Inquiry into the Earthquake Commission completed in 2020.

New name – Natural Hazards Commission Toka Tū Ake

From 1 July, the Earthquake Commission Toka Tū Ake became the Natural Hazards Commission Toka Tū Ake.

The new name better reflects the range of natural hazards the agency provides cover for, including tsunami, landslides, volcanic activity, earthquakes and geothermal activity. It also represents the role that NHC plays in supporting New Zealanders to understand those hazards, and to both prepare for and recover from natural hazards when they occur. 

The differences between NHCover and EQCover

Information summarising some of the ways cover has changed or been clarified in the Natural Hazards Insurance Act 2023 can be found on the updated web page HERE. It is not intended to be a comprehensive list of the changes. For more information please refer to the About natural hazards cover webpage, or the relevant Act.