Christchurch, NZ is a major city in a first-world nation. And NZ has mandated earthquake insurance. We in the U.S. have a lot to learn from the recovery from two major earthquakes, which devastated the city’s central business district just a few years ago. Here are two current articles about their recovery experience:
For details on a novel way to gain reconstruction workers and benefit the unemployed see: New Zealand offers unemployed cash to move to quake ravaged city. Some details from the article:
Unemployed New Zealanders are being offered cash by the government to move to the earthquake-damaged city of Christchurch and join in the rebuilding effort. The government announced Tuesday it would pay welfare recipients 3,000 New Zealand dollars to move to the city if they found any kind of full-time work there.
Christchurch has been slowly rebuilding after a 2011 quake killed 185 people and destroyed much of the city’s downtown. * * * Minister Paula Bennett said the city’s reconstruction is creating thousands of jobs but some unemployed people don’t have the resources to move to Christchurch. She said the money will help pay for moving expenses, accommodation, tools and other equipment. “There is demand not only in construction, but in hospitality, retail and many other industries too,” she said in a statement.
Thanks to Pierre Picard for the URL.
Another article details the serious miscalculation the city made regarding its cost share for recovery. See: Council’s $534m quake cost blowout. From the article:
Christchurch City Council has underestimated its share of rebuilding the earthquake-shattered city by at least $534 million, according to a new report out today.
And the report says the cost black-hole will “most likely be much higher” given the amount the council will be paid out by its insurers is “very likely” to be less than the $1 billion it estimated in its three-year plan.
Thanks to Ian McLean for this citation.