While farmers and growers are personally proactive about mitigating risk around extreme weather events, they need community wraparound to adapt to their increased frequency and impact, leading rural insurer FMG says.
FMG is a member of the Insurance Council of New Zealand and supports its position on the need for communities to adapt to the increased frequency and impact of weather events, FMG chief people officer Peter Frizzell said.
He said in the past financial year rural communities were severely impacted by the Canterbury floods, the Canterbury windstorm, July’s New Zealand-wide storms and Cyclone Dovi.
Each of these events cost FMG more than $5 million.
“From an insurance perspective, it’s important to reiterate that insurance transfers risk, it doesn’t reduce it,” Frizzell said.
“FMG has a long been an advice-led insurer and used our claims data and expertise from support partners to share insights with farmers and growers on reducing risk around their property.
“Our experience is that our clients are very good at taking up the advice that relates to them, in fact they welcome it.”
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As well as supporting communities to adapt, Frizzell said farmers and growers are proactive at looking at what preparation can be done personally to reduce damage, ahead of the unexpected happening.
“Like other insurers, we too are adapting on how we support clients following these increased weather events.
“As well as leading with preventative advice, being NZ owned and operated also puts us in a good position to respond.
“Our team live in the communities we support and have good local knowledge.”
Frizzell said FMG is investing further in online technologies where clients can lodge claims online and check their insurances.
“We are constantly investing in a network of partners and suppliers to help us get the materials we need after an event and we continue to have good relationships with reinsurers.
“We’re not standing still on this front and will continue to look at how we can improve and stay across future options.
“Our aim is to continue to provide access to affordable insurance and continue to find ways to support clients.”
