An interesting article. Worth reading, and sheds some light on an issue many Kiwis do not comprehend.
Adam spent some years working in reinsurance, so please read.
At the end of the article this struck a chord:-
“In the interim, we’ll see insurance passing all this risk to the investors and, while the risks are reasonable, those investors will pick up the risk. Eventually, as the risks increase, those investors will drop off and the insurance industry and the reinsurance industry won’t be prepared to pick up those risks, either.”
In NZ many, including politicians fail to understand this.