Post by Brent George on Jul 3, 2024 19:48:41 GMT
Natural Hazards Plan Change ‘likely’ to prompt loans, insurance concerns
Stuff - Tasman: 3-July-2024
A Natural Hazards Plan Change being developed by the Tasman District Council could limit home extensions in high risk areas, and may impact landowners’ insurances and mortgages.
The plan change, according to a council report, will result in “property-specific land use planning implications” for a large number of landowners across the district.
“Whilst outside of the council’s control, there is likely to be landowner concerns regarding the ability to get insurance and bank mortgages,” the report said.
Insurance companies use councils’ natural hazard information and their own natural hazards information to help make decisions about providing insurance at a property and area level.
They can also look at council’s resource management planning maps, such as flood hazard overlays or fault rupture lines, as an indicator of potential property exposure to natural hazards.
Stuff - Tasman: 3-July-2024
A Natural Hazards Plan Change being developed by the Tasman District Council could limit home extensions in high risk areas, and may impact landowners’ insurances and mortgages.
The plan change, according to a council report, will result in “property-specific land use planning implications” for a large number of landowners across the district.
“Whilst outside of the council’s control, there is likely to be landowner concerns regarding the ability to get insurance and bank mortgages,” the report said.
Insurance companies use councils’ natural hazard information and their own natural hazards information to help make decisions about providing insurance at a property and area level.
They can also look at council’s resource management planning maps, such as flood hazard overlays or fault rupture lines, as an indicator of potential property exposure to natural hazards.