Jenée TibshraenyWellington Business Editor·NZ Herald·11 Jun, 2026 05:00 PM4 mins to read‌The last time there was a natural disaster big enough for the Natural Hazards Commission to use its reinsurance cover was after the 2010/11 Canterbury earthquakes. Photo / 123rfThe Natural Hazards Commission is taking advantage of the fact reinsurance is relatively cheap at the moment. The state disaster insurer, previously known as EQC, has increased its reinsurance cover by 20% at no extra cost.

It now has $12.3 billion of reinsurance cover – $2.1b more than