PremiumJenée TibshraenyWellington Business Editor·NZ Herald·9 Jun, 2026 05:31 PM5 mins to read‌IAG NZ chief executive Phil Gibson wants to discourage investment in flood prone parts of the country.IAG NZ chief executive Phil Gibson wants to discourage investment in flood prone parts of the country.New Zealand’s largest general insurer, IAG, is continuing to ease its customers into paying premiums that truly reflect the flood risk their properties face. It doesn’t want to shock its riskiest customers with big premium hikes in one go.

However, it is taking a blunter approach towards pricing