Victoria University

Measuring the impact of insurance on urban recovery with light: The 2011 New Zealand earthquake

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Show simple item record Nguyen, Cuong Noy, Ilan 2018-03-21T22:28:45Z 2018-03-21T22:28:45Z 2018 2018
dc.description.abstract We measure the longer-term effect of a major earthquake on the local economy, using night-time light intensity measured from space, and investigate whether insurance claim payments for damaged residential property affected the local recovery process. We focus on the destructive Christchurch earthquake of 2011 as our case study. In this event more than 95% of residential housing units were covered by insurance, but insurance payments were staggered over 5 years, enabling us to identify their local impact. We find that night-time luminosity can capture the process of recovery and describe the recovery’s determinants. We also find that insurance payments contributed significantly to the process of economic recovery after the earthquake, but delayed payments were less affective and cash settlement of claims were more affective in contributing to local recovery than insurance-managed rebuilding. en_NZ
dc.language.iso en_NZ
dc.relation.ispartofseries SEF Working paper ; 02/2018 en_NZ
dc.subject Earthquake en_NZ
dc.subject Recovery en_NZ
dc.subject Disaster en_NZ
dc.subject Insurance en_NZ
dc.subject Light en_NZ
dc.subject New Zealand en_NZ
dc.title Measuring the impact of insurance on urban recovery with light: The 2011 New Zealand earthquake en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Economics and Finance en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
dc.rights.rightsholder en_NZ
vuwschema.subject.anzsrcfor 150204 Insurance Studies en_NZ

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