Existing insurance arrangements expired on July 1, leaving all underground infrastructure assets – such as water and wastewater pipes – without cover. Some above-ground infrastructure assets – such as pumps and treatment plants, but not buildings – were also without cover.
### ODT Online Thu, 7 Jul 2011
No insurance cover for $1 billion of assets
By Chris Morris
More than $1 billion in underground infrastructure across Dunedin is without insurance against natural disasters, after international reinsurers baulked at the risk after the Christchurch earthquakes. Dunedin City Council acting chief executive Athol Stephens yesterday confirmed brokers acting for the council had been unable to secure cover against earthquakes, landslips and other disasters.
16.7.11 Major Dunedin City Council infrastructure assets NOT INSURED
The Dunedin City Council now faces a $2.4 billion hole in its insurance cover.
LET’S BUILD A NEW STADIUM IN DUNEDIN – IT’S OUR FUTURE
Posted by Elizabeth Kerr