The Canterbury earthquake insurance sequence showed that EQC badly needed updating, and the most obvious update here is the significant increase in the amount of natural hazard insurance. In 2011, it was $100,000, and this will raise it to $300,000. Still not enough—importantly to note—to replace entirely an average home. But it is a substantial sum, and it's likely that the new entity Toka Tū Ake—the Natural Hazards Commission—will bear far and away the greatest part of any underwriting cost after a natural disaster or catastrophe.