New Zealand has the world's second-highest natural disaster costs in the world as a proportion of GDP. It's one of the reasons we're called "the Shaky Isles". On the flip side, our natural hazards insurance scheme supports us to have one of the world's highest rates of residential property insurance. For a multitude of reasons, it's crucial New Zealanders can continue to get affordable insurance cover, and their compensation paid when it's due, as quickly as possible. Insurance is fundamental to helping communities recover after an event. Compensating policy owners for the damage caused by a natural hazard means they can repair their home and move on with their lives.